SEOUL (Reuters) – Shares of South Korea’s LG Chem Ltd slid as much as 6.5% on Monday after General Motors Co on Friday said it would recall about 73,000 Chevrolet Bolt electric vehicles (EVs) at a cost of $1 billion to address fire risks.
The Detroit company also said it would indefinitely halt sales of the EVs due to the issue and will seek reimbursement from battery supplier LG. The latest recall covers 73,000 vehicles from model years 2019 through 2022.
(Reporting by Heekyong Yang and Jihoon Lee; Editing by Tom Hogue)
