LG will pay for everything: the amount of compensation for defective batteries is named

LG will pay for everything: the amount of compensation for defective batteries is named

FineAuto

Last August, GM announced that it was recalling all Chevrolet Bolt EVs released after 2017, including the most recent versions. The cause was numerous cases of electric vehicle battery fires caused by defects in the LG Chem battery cells.

LG Electronics agreed to pay General Motors $ 1.9 billion out of the $ 2.0 billion spent on the revocable company. Interestingly, the Americans themselves demanded only 1 billion. Also, LG Chem revised the problem points and began to supply GM with updated battery modules, devoid of early flaws. They are already being installed in all new models, including the updated Bolt EV electric hatchback and the new Bolt EUV electric crossover presented this winter.

Interestingly, a similar situation with LG Chem batteries happened with Hyundai electric vehicles – the Korean automaker decided to completely replace the batteries in 75 thousand Kona electric crossovers due to the risk of fire. The replacement cost was about $ 0.9 billion.

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