June 16, 2024
SUVs & Crossovers

GM and LG reach a settlement agreement on Bolt battery recall

General Motors issued a recall for the Chevy Bolt a few years ago due to battery fire risks. Finally, a settlement has been reached between GM and its battery supplier, LG Energy Solution, regarding who will cover the costs of the extensive recall. According to Automotive News, Bolt owners may receive compensation as part of this settlement.

The proposed $150 million settlement could provide owners with up to $1,400, depending on the fix they received. Some owners may receive a lesser amount if they only received diagnostic monitoring software instead of a battery replacement. The issue originated from faulty battery cells, which heightened the risk of fire. Over 100,000 Bolts from 2017 to 2022 were recalled, including all 2017-2019 models and some newer vehicles. Most recent Bolts received the monitoring software to detect battery irregularities.

Unfortunately, many owners were dissatisfied with the non-replacement fix, as they were initially promised new batteries with warranties. GM’s delay in providing replacements left owners in the dark for months, prompting the automaker to advise them to limit charging and park the cars away from structures. Despite the initial setbacks, a settlement has been reached, pending approval from a judge.

When approved, approximately 22,560 owners could receive $1,400, while around 80,000 others may receive $700. The Bolt and Bolt EUV were popular affordable EVs until GM discontinued them after the 2023 model year. However, GM plans to reintroduce the model by 2025 with updates to utilize its Ultium EV platform and batteries.

FAQs

Q: How many Bolts were affected by the recall?

A: Over 100,000 Bolts from 2017 to 2022 were recalled due to battery fire risks.

Q: What compensation can Bolt owners expect from the settlement?

A: Owners could receive up to $1,400 as part of the $150 million proposed settlement.

Conclusion

After years of delay, GM and LG Energy Solution have reached a settlement regarding the Chevy Bolt battery recall. While awaiting final approval from a judge, affected owners may soon receive compensation for the inconvenience caused by the faulty battery cells. The resolution of this issue marks a step towards resolving the concerns of Bolt owners and ensuring the safety of electric vehicles moving forward.

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