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LG Electronics agrees to pay USD1.9 billion to General Motors for sharing Bolt EV recall expenses

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Corporate developments

GM has recalled more than 140,000 units of its Bolt EVs, following several incidents wherein the Chevy Bolt EVs caught fire

General Motors and LG Electronics Inc have reached an agreement under which the Korean supplier of electric vehicle (EV) batteries will reimburse the automaker the costs and expenses associated with the recall of Chevrolet Bolt EVs and EUVs due to manufacturing defects in battery modules, GM announced on 12 October.

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