October 14, 2021 08:29
LG Energy Solution has reached a deal to reimburse General Motors W1.4 trillion for a recall of the Chevrolet Bolt electric cars (US$1=W1,193).
GM said Tuesday that the replacement of faulty batteries made by LG Energy Solution is expected to cost nearly US$2 billion.
It had originally demanded that LG Energy Solution pay for all of it, but they reached a deal for compensation for only a certain number.
A fire risk in the flagship EV has forced GM to recall 140,000 Bolts made since production began in 2016. It had to ask owners to park the car well away from others in a well-ventilated place due to the risk of the battery bursting into flame.
But while the recall will proceed with "complete replacement of battery packs and modules made for the early models of batteries, the more recently manufactured battery modules will be selectively replaced following diagnostic software screening," LG Energy Solution said.
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