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2021-10-12
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GM Agrees on $1.9 Billion LG Deal to Recoup Bolt EV Recall Costs
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GM had to recall all 143,000 Bolt and Bolt EUV models because of a manufacturing defect involving the battery that led to an increased fire risk.GM shares rose 1.2% in early tradin","content":"<p>General Motors Co. said it reached an agreement with partner <a href=\"https://laohu8.com/S/LGEAF\">LG Electronics Inc.</a> to recover from the Korean company $1.9 billion of the $2 billion in costs for a recall of batteries in its Chevrolet Bolt electric vehicle.</p>\n<p>The Detroit automaker said Tuesday it will recognize the recovery in its third quarter earnings. GM had to recall all 143,000 Bolt and Bolt EUV models because of a manufacturing defect involving the battery that led to an increased fire risk.</p>\n<p>GM shares rose 1.2% in early trading and had gained 40% this year through Monday’s close.</p>\n<p>“LG is a valued and respected supplier to GM, and we are pleased to reach this agreement,” Shilpan Amin, GM’s vice president of global purchasing and supply chain, said in a statement. “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.”</p>\n<p>Earlier today, LG Corp. companies announced plans to set aside 1.1 trillion won ($918 million) to cover costs related to the recall of the Bolt and moved to reassure investors concerned about a rift between the South Korean conglomerate and GM.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGM Agrees on $1.9 Billion LG Deal to Recoup Bolt EV Recall Costs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-12 21:07 GMT+8 <a href=https://www.bloomberg.com/news/articles/2021-10-12/gm-reaches-deal-with-lg-to-recover-1-9-billion-in-recall-costs?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>General Motors Co. said it reached an agreement with partner LG Electronics Inc. to recover from the Korean company $1.9 billion of the $2 billion in costs for a recall of batteries in its Chevrolet ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-10-12/gm-reaches-deal-with-lg-to-recover-1-9-billion-in-recall-costs?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车"},"source_url":"https://www.bloomberg.com/news/articles/2021-10-12/gm-reaches-deal-with-lg-to-recover-1-9-billion-in-recall-costs?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2174136116","content_text":"General Motors Co. said it reached an agreement with partner LG Electronics Inc. to recover from the Korean company $1.9 billion of the $2 billion in costs for a recall of batteries in its Chevrolet Bolt electric vehicle.\nThe Detroit automaker said Tuesday it will recognize the recovery in its third quarter earnings. GM had to recall all 143,000 Bolt and Bolt EUV models because of a manufacturing defect involving the battery that led to an increased fire risk.\nGM shares rose 1.2% in early trading and had gained 40% this year through Monday’s close.\n“LG is a valued and respected supplier to GM, and we are pleased to reach this agreement,” Shilpan Amin, GM’s vice president of global purchasing and supply chain, said in a statement. “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.”\nEarlier today, LG Corp. companies announced plans to set aside 1.1 trillion won ($918 million) to cover costs related to the recall of the Bolt and moved to reassure investors concerned about a rift between the South Korean conglomerate and GM.","news_type":1},"isVote":1,"tweetType":1,"viewCount":872,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/826469663"}
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