SEOUL—South Korea’s LG Energy Solution (LGES) plans to spend $2.1 billion with General Motors to build a U.S. electric vehicle (EV) battery plant, parent firm LG Chem said on Tuesday. LGES and GM are expected to fund the project equally via Ultium Cells, their U.S.-based battery joint venture, for what will be their third joint…
South Korean Battery Firms to Shoulder $1.2 Billion of GM’s Bolt EV Recall Costs
SEOUL—South Korean battery firms LG Chem Ltd. and LG Electronics Inc. will be shouldering a combined $1.2 billion for General Motors Co.’s Bolt electric vehicle recall—the lion’s share of the expected costs. GM in August expanded the recall, which will replace LG battery modules due to the risk of fire, to more than 140,000 cars,…
GM Digs in With LG Corp. to Speed a Fix for Bolt Battery Fires
September 13, 2021
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General Motors Co. is taking a more direct role with South Korea’s LG Corp., its longtime electric vehicle partner, in tracking down and fixing problems linked to battery fires in Chevrolet Bolts that threaten the strategic plans of both companies. At an investor conference on Friday, GM Chief Financial Officer Paul Jacobson said LG is…
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