LG Chem "Provisions of 620 Billion KRW Set for GM Bolt Recall... Reflected in 3Q Earnings"
[Asia Economy Reporter Minwoo Lee] LG Chem announced on the 12th that its subsidiary LG Energy Solution will reflect an additional provision of approximately 620 billion KRW related to the recall of General Motors (GM)'s Bolt electric vehicle (EV) in the consolidated financial statements for the third quarter of this year.
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The company stated, "The recall will proceed with a full replacement of modules and packs for the initial production units, and a selective module replacement using diagnostic software (SW) for recent production units. The cost scale may vary during the ongoing process." It added, "LG Energy Solution will actively participate in this GM recall to further strengthen the collaborative relationship between the two companies."
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