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General Motors Recalls Electric Chevrolet Bolt for Second Time in a Year

General Motors is recalling the 2017-2019 model hatchback after two vehicles that had been repaired in a prior recall caught fire.
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General Motors  (GM) - Get General Motors Company (GM) Report shares fell Friday after the automaker said it was recalling the Chevrolet electric Bolt for the second time in a year.

The recall is for the I2017-2019 model hatchback and the move came after two vehicles that had been repaired in a prior recall caught fire.

GM will replace the vehicles’ battery modules after finding defects in the battery. The recall applies to 68,667 cars with batteries manufactured by South Korea’s LG Chem, according to Bloomberg. Other Bolts, with different batteries, weren’t recalled.

"As part of GM’s commitment to safety, experts from GM and LG have identified the simultaneous presence of two rare manufacturing defects in the same battery cell as the root cause of battery fires in certain Chevrolet Bolt EVs," GM spokesman Dan Flores said in a statement, according to the Detroit Free Press.

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"As part of this recall, GM will replace defective battery modules in the recall population. We will notify customers when replacement parts are ready."

GM traded at $55.05, down 1.07%. It has firmed 0.6% over the past six months, though it’s down 6% in the past month amid the semiconductor shortage.

Earlier this week, Commerce Secretary Gina Raimondo said U.S. automakers are beginning to get more semiconductors after a shortage had dented their production.

“You’re starting to see some improvements,” she told Bloomberg. In recent weeks, Ford Motor  (F) - Get Ford Motor Company Report and GM told Raimondo “they’re starting to get a little bit more of what they need,” and the situation is “a little bit better,” she said.