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GM Expands Bolt Recall To All Remaining Vehicles, Will Take $1 Billion Charge

Courtesy of ZeroHedge View original post here.

GM has vastly expanded its Chevy Bolt recall that it had previously issued due to risk of fires.

The company said on Friday it was going to take a $1 billion charge as a result of the recall and that it was "indefinitely" halting sales of the EV due to the risk of fire from the car's battery pack. 

The expanded recall "covers 73,000 vehicles from model years 2019 through 2022," Reuters reported Friday. It now encompasses all remaining Bolt vehicles that hadn't been previously recalled. The company is targeting replacing defective battery modules with new ones as a solution.

GM had already set aside $800 million for previous recalls, which is not included in the new $1 billion cost for the company. 

Recall we noted in July when GM issued its second recall for the Bolt. A spokesman for GM said at the time: "As part of GM’s commitment to safety, experts from GM and LG have 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. As part of this recall, GM will replace defective battery modules in the recall population. We will notify customers when replacement parts are ready." 

Back in November of 2020, tens of thousands of Chevrolet Bolt vehicles were recalled after the company became aware of "five fires involving the cars" that resulted in two injuries from smoke inhalation.

A notice was issued in November for 50,932 of the vehicles in the U.S. dating from 2017 to 2019. General Motors said the battery could “catch fire when charged to full or nearly full capacity,” at the time.

Battery maker LG said on Friday: “The reserves and ratio of cost to the recall will be decided depending on the result of the joint investigation looking into the root cause, currently being held by GM, LG Electronics and LG Energy Solution.”


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