Stock Groups

GM says Chevrolet Bolt EV battery production resumes By Reuters


© Reuters. FILE PHOTO – Workers build Chevy Bolt electric cars at General Motors’ Orion Township assembly plant, Michigan. U.S. November 4, 2016. REUTERS/Joe White

WASHINGTON (Reuters) – General Motors Co (NYSE:) said on Monday that battery production has resumed for its recalled Chevrolet Bolt electric vehicle and that battery replacements will begin next month.

GM stated that the battery suppliers LG batteries plants in Holland, Michigan and Hazel Park have resumed production, and LG has added capacity to supply more battery cells for GM.

The largest U.S. automobile manufacturer announced last week that it will extend the shutdown at a Michigan assembly facility to October due to a recall of Chevrolet Bolt electric cars over battery problems after 13 fires. Monday was a non-event for GM. It did not say when production would resume.

GM increased its Bolt recall to 140,000 vehicles in August to replace the battery modules. The cost is now $1.8 billion. According to GM, it will seek reimbursement from LG.

GM announced Monday that replacement battery modules would begin shipping to dealers by mid-October.

GM believes two manufacturing defects, a fold separator or a torn aniode, are responsible for the battery fires that have been reported in rare cases.

GM stated that LG had implemented new manufacturing procedures and worked closely with GM in order to improve its quality assurance programs and give customers confidence about its future batteries.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. CFDs include futures, stocks, indexes and Forex. Prices are provided not by the exchanges. They are set by market makers. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.