(WSJ) General Motors Company has said that it will recover from LG Electronics Inc. about $2 billion it incurred in the recall of Chevrolet Bolt electric models due to battery fire risks.
The automaker said that it expects to announce a recovery of $1.9 billion of a $2 billion safety action charge in the third-quarter results later this month.
GM has attributed the defect to a manufacturing problem by the Korean electronic company that caused flaws in some battery cells.
In August, GM added 142,000 bolts produced since 2016 to an initial recall over the manufacturing defect that has been linked to at least 13 fire incidents.
The automaker has been advising its Bolt customers to park their cars outside after charging them at a safe distance from other vehicles.
GM said in September that it had gotten a solution to the problem and that it would replace the defective battery modules in the recalled cars this month.
066570: KRX is down -1.61%, GM: NYSE is down -0.14% on pre-market.
