Chevrolet Bolt Owners Eligible for Compensation in Proposed Settlement

Owners of Chevrolet Bolt EVs with faulty battery packs may soon receive compensation of up to $1,400 each through a $150 million settlement proposed by GM and battery supplier LG Energy Solution.

Recall Details

A series of fires led Chevrolet to recall over 110,000 Bolt EV and EUV models. The carmaker has already replaced more than 68,000 battery packs, with the proposed settlement awaiting approval from a judge.

Settlement Terms

The settlement, filed in a federal court in Michigan, offers Bolt owners of 2017-2022 models either $700 or $1,400 based on whether they had their battery replaced or diagnostic software installed to monitor battery health.

Compensation Process

Approximately 80,000 Bolt owners who had their battery packs replaced will receive $700, while around 22,560 will be eligible for $1,400 if their vehicle was equipped with diagnostic software. As of April 2, Chevrolet had replaced 68,565 batteries from older Bolt models.

Conclusion

The proposed settlement aims to resolve class action litigation related to the Bolt EV battery recall. GM, LG Energy Solution, and LG Electronics have agreed to compensate affected owners, pending court approval. This settlement is seen as a positive outcome for both the plaintiffs and the class involved.