The Chevrolet Bolt EV has gained a reputation as an excellent small car—when it isn’t associated with fire incidents, which thankfully, is the case for most users. However, owners of 2017 to 2022 Bolt models and the 2022 Bolt EUV lived with constant concern after reports emerged about the fire hazard linked to the battery packs supplied by LG. This prompted General Motors to announce an extensive $1 billion recall to provide battery replacements for numerous owners. In a recent development, GM has reached an agreement with LG to create a relief fund totaling $150 million for those affected by the Bolt EV and EUV issues.
According to documents submitted in U.S. courts, reported first by Reuters, GM stated, “GM, LG Energy Solution and LG Electronics have agreed to a settlement with plaintiffs to resolve class action litigation related to the Bolt EV battery recall. As a result, Bolt owners who received a battery replacement or who have installed the latest advanced diagnostic software may qualify for compensation.”
Individuals who completed the battery replacement or applied the software fix at a GM-authorized dealer before December 31, 2023, may be eligible for compensation of up to $1,400. Those who sold their Bolt EV or ended their lease before the software fix was available could receive a minimum payment of $700.
The risks originate from older battery cells, which in some instances contain two rare manufacturing defects that can increase the likelihood of a fire. GM has advised Bolt EV owners to refrain from charging their vehicles beyond a 90% charge, to avoid running down battery levels below a 70-mile range, and to park their cars outdoors. The situation has escalated to the point where some airports have designated specific areas for Bolt EV parking due to safety concerns.
While Chevrolet has ceased production of the Bolt EV and Bolt EUV to focus on a broader range of electric vehicles, plans are in place to reintroduce the compact model, which will utilize GM’s advanced Ultium battery technology..
