General Motors Announces Chevrolet Bolt EV Production Shutdown To Extend Until February 2022

General Motors Company (NYSE: GM) announced Monday that it is extending the production halt at its Chevrolet Bolt electric vehicle plant in Michigan. The move is meant “to continue prioritizing recall repairs.”

GM spokesperson Dan Flores said the company has notified the employees at the Michigan plant that the company “will extend downtime through February 2022.” The direction for the manufacturing plant is to “focus on battery module replacements.”

The plant, which manufactures the Bolt line, halted production in August 2021 after a wide recall of its electric vehicles due to the risk of battery fires. The retail sales of the vehicle line have also been halted indefinitely.

The automaker announced in October that its battery supplier, LG Electronics, agreed to shoulder the expenses related to the recall. The cost is estimated at US$2 billion.

General Motors Company last traded at US$54.04 on the NYSE.


Information for this briefing was found via the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

General Motors to Resume Production at 5 Plants Following Chip Shortage

General Motors has revealed it will restart production at five of its plants beginning in...

Friday, May 28, 2021, 10:36:00 AM

Auto Workers, Automakers Back To Negotiation Table As Firms Strike Back

The weekend brought the United Auto Workers (UAW) and major automakers back to the negotiation...

Monday, September 18, 2023, 02:04:00 PM

Ford’s Farley Takes A Swipe At GM’s CarPlay Excuses

Ford (NYSE: F) CEO Jim Farley reaffirmed the company’s commitment to CarPlay and Android Auto,...

Thursday, December 14, 2023, 04:27:00 PM

GM Will Soon Phase Out Apple CarPlay in its EVs in Favor of a New Google-Supported System

General Motors (NYSE: GM) will soon remove widely-used Apple CarPlay and Android Auto smartphone connectivity...

Wednesday, April 5, 2023, 12:40:00 PM

Cruise: A Deep Dive On The Autonomous Electric Vehicle Company

From the Disney magic-powered Herbie in 1968 to the wizardry-enchanted 1960 Ford Anglia in the...

Wednesday, May 12, 2021, 01:30:00 PM