COMPANY NEWS IN BRIEF

COMPANY NEWS IN BRIEF GM expands Chevy Bolt EV

General Motors Co said it would take a hit of US$1 billion to expand the recall of its Chevrolet Bolt electric vehicles due to the risk of fires from the high-voltage battery pack - a blow for the largest US automaker as it seeks to ramp up EV sales.

The Detroit company also said it would indefinitely halt sales of the EVs due to the issue and will seek reimbursement from battery supplier LG. The latest recall covers 73 000 vehicles from model years 2019 through 2022.

“The reserves and ratio of cost to the recall will be decided depending on the result of the joint investigation looking into the root cause, currently being held by GM, LG Electronics and LG Energy Solution,” LG said in a statement, referring to its subsidiaries.

LG added that it is actively working with its client and partners to ensure that the recall measures are carried out smoothly.

GM and LGES have a joint venture, Ultium Cells LLC, that is building battery cell plants in Ohio and Tennessee, with plans to add two more after that. GM has said it will use a different-generation battery when it launches electric Hummer and Cadillac vehicles over the next year. -Nampa/Reuters