$150M Chevy Bolt Settlement: In a significant legal resolution, General Motors (GM) and LG Electronics have agreed to a $150 million settlement to compensate owners of Chevrolet Bolt EVs affected by a battery defect linked to fire risks. The settlement provides cash payouts to eligible owners and lessees, with payments of up to $1,400 per vehicle. The settlement follows a series of battery-related issues that led to multiple recalls, lawsuits, and safety concerns for Bolt EV owners. GM and LG, while denying any wrongdoing, have agreed to compensate affected customers to resolve these claims.
$150M Chevy Bolt Settlement
The $150 million Chevy Bolt settlement is a major win for affected vehicle owners, compensating them for the risks and depreciation linked to battery defects. As EV technology advances, this case emphasizes the importance of safety, transparency, and consumer protection in the growing electric vehicle market. For more details, visit BoltEVBatterySettlement.com and file your claim before February 24, 2025.
| Aspect | Details |
|---|---|
| Settlement Amount | $150 million |
| Eligible Vehicles | 2017-2022 Chevrolet Bolt EVs built and shipped to dealers on or before August 19, 2021 |
| Compensation Details | – $1,400 Payment: Vehicles that received a software remedy – $700 Payment: Vehicles eligible for battery replacement, including former owners/lessees |
| Claim Submission Deadline | February 24, 2025 |
| Final Approval Hearing | March 25, 2025 |
| Official Settlement Website | BoltEVBatterySettlement.com |
Understanding the Chevy Bolt Battery Issue
The Chevy Bolt EV has been one of GM’s most popular electric vehicles, but it faced significant safety concerns due to defective batteries supplied by LG Electronics.
- In 2020, reports of battery fires led to an initial recall of Bolt EVs.
- By 2021, GM expanded the recall to cover all 2017-2022 models due to increased fire risks.
- GM halted Bolt EV sales and replaced battery packs in affected vehicles at no cost to owners.
- The total recall costs exceeded $2 billion, with GM and LG splitting the expenses.
The lawsuit leading to the settlement argued that GM and LG failed to warn consumers adequately and did not act swiftly enough to resolve the issue.
Who is Eligible for Compensation?
To qualify for the settlement, individuals must meet the following criteria:
- Own or lease a 2017-2022 Chevy Bolt EV
- The vehicle must have been built and shipped on or before August 19, 2021
- Both current and former owners/lessees may qualify
If you sold or returned your leased vehicle, you may still be eligible for partial compensation if your vehicle became eligible for a software remedy after your sale or lease termination.
Compensation Details & Payout Amounts
Eligible owners and lessees will receive one of the following cash payments based on the remedy their vehicle received:
- $1,400 Payment: For vehicles that received a software remedy for battery safety concerns.
- $700 Payment: For vehicles that were eligible for a battery replacement but did not receive a software remedy before the sale/lease termination.
In addition to financial compensation, GM has introduced advanced battery diagnostic software to enhance vehicle safety and reduce fire risks.
How to File a $150M Chevy Bolt Settlement?
To receive compensation, eligible Chevy Bolt owners and lessees must:
- Visit the official settlement website: BoltEVBatterySettlement.com
- Complete the claim form before the February 24, 2025 deadline.
- Provide required documentation, including:
- Proof of ownership (vehicle registration, title, or purchase receipt)
- Lease contract (if applicable)
- Government-issued photo ID
Important Deadlines
- Objection Deadline: January 24, 2025
- Exclusion Deadline: February 24, 2025
- Claim Submission Deadline: February 24, 2025
- Final Approval Hearing: March 25, 2025
Impact on Consumers & the Auto Industry
This settlement is one of the largest EV-related settlements in recent years, setting a precedent for accountability in the electric vehicle industry.
- Consumer Impact: Affected owners receive compensation for safety risks and depreciation concerns.
- Auto Industry Impact: This case highlights the importance of stringent battery safety measures as more automakers transition to electric vehicles.
- Future Recalls: GM has committed to implementing improved battery safety protocols to prevent similar issues in upcoming EV models.
How This Settlement Compares to Other Auto Recalls?
Other major automakers have also faced large settlements related to vehicle safety issues, including:
- Hyundai & Kia Engine Fire Settlement: $758 million settlement over defective engines that posed fire risks.
- Volkswagen Dieselgate Scandal: $14.7 billion payout for emissions fraud affecting diesel vehicles.
- Tesla Battery Fires: Ongoing investigations into battery-related safety concerns.
Compared to these, the Chevy Bolt settlement is one of the most significant EV-related settlements but far smaller than emissions and fuel-related scandals.
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Frequently Asked Questions (FAQs)
1. Who is eligible for the settlement?
Anyone who owned or leased a 2017-2022 Chevrolet Bolt EV built before August 19, 2021 is eligible.
2. How much compensation will I receive?
- $1,400 if your vehicle received a software update
- $700 if your vehicle was eligible for a battery replacement
3. What documentation is required?
- Proof of ownership or lease (vehicle registration, title, lease contract)
- Government-issued photo ID
4. How do I file a claim?
Submit a claim form via the official settlement website before February 24, 2025.
5. What if I no longer own the vehicle?
You may still qualify for partial compensation if your vehicle became eligible for a software fix after you sold or returned it.
