General Motors' (GM) - Get General Motors Company (GM) Report Chevrolet unit expanded its recall of Bolt electric vehicles to include all 59,392 model year 2019-2022 cars due to the risk of high-voltage battery pack fires.
The recall expands on earlier recalls of its 2017-2019 Bolts announced in November of 2020 and in July of this year, the National Highway Transit Safety Administration said in a statement Friday afternoon.
“At this time, GM is asking all Chevrolet Bolt vehicle owners to park their vehicles outside and away from structures, and to not charge the vehicles overnight,” according to the statement. Owners are being told to limit charging to 90% and to recharge after every use and not wait until the battery is almost run down.
In a statement, GM said that "In rare circumstances, the batteries supplied to GM for these vehicles may have two manufacturing defects – a torn anode tab and folded separator – present in the same battery cell, which increases the risk of fire." The company said it will "replace defective battery modules in Chevrolet Bolt EVs and EUVs with new modules, with an expected additional cost of approximately $1 billion," according to the statement.
The earlier recalls have already resulted in charges of $800 million to the company, Bloomberg reported. GM is seeking reimbursement from South Korean battery supplier LG Chem Ltd. In connection with the recall, the company said.
Shares of GM fell in after-hours trading on Friday. The stock traded down $1.02, or 2%, to $47.78 in after-hours action. It lost 0.6% in the regular session.