GM and LG Attain $150 Million Settlement for Chevrolet Bolt EV House owners Affected by Faulty Batteries : Automotive Addicts
Automotive
Common Motors (GM) and South Korea’s LG Power Answer, together with LG Electronics, have reached a $150 million settlement to help Chevrolet Bolt EV homeowners affected by faulty batteries. This settlement was not too long ago documented in a U.S. court docket.
The Chevrolet Bolt EV, launched in 2015, featured batteries equipped by LG. Beginning in 2020, GM started recalling the autos after quite a few complaints about battery fires.
In keeping with an emailed assertion from GM to Reuters, the settlement goals to resolve class motion lawsuits associated to the battery defects. Bolt EV homeowners who acquired a battery alternative or the most recent diagnostic software program replace could also be eligible for compensation.
House owners who had the ultimate software program replace put in at a GM-authorized dealership by December 31, 2023, may obtain as much as $1,400. Those that offered or ended the lease of their car earlier than the software program repair was out there, or those that already had a battery alternative, are entitled to a minimal cost of $700.
GM stopped manufacturing of the Bolt EV final yr to concentrate on new electrical car fashions. In 2021, the corporate introduced a billion-dollar recall marketing campaign to deal with battery hearth dangers, which resulted in a six-month halt in Bolt manufacturing and gross sales.
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