GM, LG agree on Bolt EV recall costs

Tuesday, 12. October 2021 14:31

General Motors Co. unveiled on Tuesday that it reached an agreement with LG Electronics Inc. on how much the latter will reimburse GM the costs and expenses associated with the recall of Chevrolet Bolt EVs.

The electric vehicles were recalled due to faulty batteries which were manufactured and supplied by LG. According to the agreement, GM will get back $1.9 billion of the $2 billion cost that was associated with the recall.

GM Vice President of Global Purchasing and Supply Chain Shilpan Amin commented on the deal: "LG is a valued and respected supplier to GM, and we are pleased to reach this agreement. Our engineering and manufacturing teams continue to collaborate to accelerate production of new battery modules and we expect to begin repairing customer vehicles this month."

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Breaking the News / OL