General Motors (GM) and South Korea’s LG Energy Solution, along with LG Electronics, have reached a $150 million settlement to support Chevrolet Bolt EV owners affected by defective batteries. This agreement was recently documented in a U.S. court.
The Chevrolet Bolt EV, launched in 2015, featured batteries supplied by LG. Starting in 2020, GM began recalling the vehicles after numerous complaints about battery fires.
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According to an emailed statement from GM to Reuters, the settlement aims to resolve class action lawsuits related to the battery defects. Bolt EV owners who received a battery replacement or the latest diagnostic software update may be eligible for compensation.
Owners who had the final software update installed at a GM-authorized dealership by December 31, 2023, could receive up to $1,400. Those who sold or ended the lease of their vehicle before the software fix was available, or those who already had a battery replacement, are entitled to a minimum payment of $700.
GM stopped production of the Bolt EV last year to focus on new electric vehicle models. In 2021, the company announced a billion-dollar recall campaign to address battery fire risks, which resulted in a six-month halt in Bolt production and sales.
