General Motors Co. announced today it has reached an agreement under which LG Electronics Inc. will reimburse GM for costs and expenses associated with the recall of Chevrolet Bolt EVs and EUVs due to manufacturing defects in battery modules supplied by LG.
As a result of the agreement, GM will recognize an estimated recovery in its third-quarter earnings that will offset $1.9 billion of $2.0 billion in charges associated with the recalls.
“LG is a valued and respected supplier to GM, and we are pleased to reach this agreement,” said Shilpan Amin, GM vice president, Global Purchasing and Supply Chain. “Our engineering and manufacturing teams continue to collaborate to accelerate production of new battery modules and we expect to begin repairing customer vehicles this month.”
By Length (6-8m, 8-10m, 10-12m, Above 12m), By Application By Type of Buses (Motor Coach, Mini Coach, Mid Coach, Double Decker Bus, Shuttle Bus, Others), By Application By Type of Usage (Public Transport, Tourist Bus, School Bus, Office Bus, Office), By Seating Capacity (Up to 30, 31-40, 41-50, Above 50), By Fuel Type (Diesel, Electric & Hybrid, Alternative Fuels, Fuel Cell, Petrol/Gasoline), By Body Type (Customizable, Fully Built), and By Country (Bahrain, Iraq, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Palestine, Sudan, Tunisia, Saudi Arabia, UAE, Algeria, Egypt, Iran), CompetitionDownload free sample pages
Source: General Motors Co.
Date: Oct 12, 2021
Share this news: