As GM Authority extensively covered, the Chevy Bolt EV and Chevy Bolt EUV were subject to various recalls and buy-back programs due to battery issues. With this in mind, General Motors and LG have reached a settlement to establish a $150-million relief fund for owners of vehicles affected by the defective batteries.
According to a report from Reuters, owners of recalled Chevy Bolt EV and Bolt EUV examples who installed the final battery-related recall before December 31st, 2023 may be eligible to receive up to $1,400. Those who sold or terminated the lease of their Bow Tie brand all-electric hatchback or crossover before the software fix was available, as well as those who already replaced the battery, will receive a minimum of $700.
“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,” a General Motors spokesperson detailed in a prepared statement. “As a result, Bolt owners who received a battery replacement or who have installed the latest advanced diagnostic software may qualify for compensation.”
It’s worth noting that General Motors was already offering $1,400 in compensation for owners of affected Bolt EV and Bolt EUV units as of October 2023.
While the first-gen Bolt twins are no more, General Motors has confirmed that there will indeed be a second-generation Bolt EV, and is currently targeting a 2026 model-year launch for the affordable electric vehicle. Interestingly, the next-gen Bolt will be based on the first-gen Bolt EUV as opposed to a clean-sheet design, and will be built at the GM Fairfax plant in Kansas.
Furthermore, while the next-generation Bolt EV will utilize GM Ultium-based technologies, the Bolts will also reportedly feature lithium iron phosphate (LFP) batteries, which would be purchased from a supplier. This is quite the intriguing development, as the GM Ultium batteries found in other GM electric vehicles boast a nickel-cobalt-manganese-aluminum (NCMA) makeup.
Be sure to subscribe to GM Authority for Chevy Bolt EV news, Chevy Bolt EUV news, Chevy news, GM EV news, GM legal news, GM business news, and more obsessive-compulsive GM news coverage.
Comments
I OWNED A BOLT BUT SOLD IT AFTER THE BATTERIES STARTED BLOWING UP. HOW DO I QUALIFY FOR RECOMPENSE FROM GM?
I purchased a new 2020 in Jan 2021 before the problem became apparent. I really liked my Bolt, after owning a 2012 Volt which I was very satisfied with. The Bolt was more “fun” to drive, much like a Mini Cooper. After the fires became an issue I sold my 2020 Bolt nine months later. I was concerned about the residual value and the recall wasn’t started yet. I always charged it on my driveway, it never exhibited any problems. My daughter bought a 2023 Bolt over a year ago after the problem was resolved. She enjoyed it so much with refreshed exterior and new instrument panel design and better front seats. I replaced my Bolt with a 2022 LT1, which an is awesome car. Comparing apples to oranges, I later bought a 2023 Bolt EV about a year ago. The better front seats and dash really were huge upgrades. Honestly the two are totally different vehicles, but it’s hard to choose a favorite! I’m glad GM gave the Bolt an extension on life and sad the Camaro had to go. The Bolt is definitely much more economical to operate, less maintenance and exciting to drive in city traffic. What’s not to like? If it were in different models like the Mini Cooper it would be Chevys new Corvair? Young people as well as boomers would have a need for a fun and economical car to commute around town. Bolt could become a cult car like the VW bug. Marketing 101, the Bolt has a lot of potential!
I OWNED A BOLT BUT SOLD IT AFTER THE BATTERIES STARTED BLOWING UP. PLEASE ADVISE HOW DO I QUALIFY FOR RECOMPENSE FROM GM?
Had to call the GM Concierge daily for weeks until I got the $1,400 virtual (aka phony) credit card which I’m currently working on draining…. Of course – part of the deal is that you agree to never sue GM.
To be eligible, I had to have the 80% enforced limitation on the state-of-charge for around 6,000 miles – a dealer recall which had to be completed in 2023… got mine done at the end of December last year.
Is this 1400$ only for Us or is Canada involved in this compensation? It’s not specified anywhere.