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.
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.
