South Korea’s LG Energy Solution and LG Electronics reached a legal settlement with auto manufacturer General Motors to set up a $150 million compensation fund for Chevrolet Bolt EV owners affected by defective batteries.
Reports stated documents filed in Michigan eastern district court showed owners of recalled Bolt EVs who took up the final software remedy at a GM-authorised dealership before 31 December, 2023 may receive up to $1,400.
Owners who sold or terminated their vehicle lease before the software remedy became available will receive a minimum $700, as will those who already received a battery replacement payment.
The company told Reuters: “GM, LG Energy Solution and LG Electronics have agreed to a settlement with plaintiffs to resolve class action litigation related to the Bolt EV battery recall.
“As a result, Bolt owners who received a battery replacement or who have installed the latest advanced diagnostic software may qualify for compensation,” it said.
GM said it and LG identified “the simultaneous presence of two rare manufacturing defects” in the same battery cell as the root cause of battery fires in certain Chevrolet Bolt EVs. GM ended production of the Bolt EV last year.
Photo: Chevrolet told owners to avoid charging indoors overnight. Chevrolet
