LGCLF - General Motors pauses Chevy Bolt production due to battery issues

General Motors (GM -1.3%) is halting production of the Chevy Bolt electric vehicle for a few weeks after spending more than $2B on recalls related to the risk of battery fires. The automaker won't start production again on the the 2022 Bolt and Bolt EUV until at least mid-September after it is confident that new batteries from LG Chem (OTCPK:LGCLF) are without defects. The current recall is also on hold until the battery situation is clarified. GM CEO Mary Barra says the recall will not impact the automaker's plan to collaborate with LG on EV batteries for new all-electric models. Read more about GM's Chevy Bolt EV recall earlier this month that added heavy costs.

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General Motors pauses Chevy Bolt production due to battery issues