GM - General Motors LG Establish $150M Settlement Fund For Bolt EV Battery Issues: Report | Benzinga
General Motors Co (NYSE:GM) and South Korea’s LG Energy Solution along with LG Electronics have reportedly agreed to establish a $150 million fund to support Chevrolet Bolt EV owners impacted by faulty batteries.
This settlement, detailed in documents filed in a U.S. court, aims to provide financial relief to affected vehicle owners, Reuters reported.
The Chevrolet Bolt EV, which debuted in 2015, utilized batteries supplied by LG as part of a collaboration with GM.
However, starting in 2020, GM began recalling these vehicles following multiple reports of battery fires, the report noted.
The settlement resolves ...