GM: Bolt EV Fire Reserve $ 800 Million: April-June Recall Expenses

GM: Bolt EV Fire Reserve $ 800 Million: April-June Recall Expenses

-LG may exceed 1 trillion won-

GM:

On August 6, it announced that it “reflected the reserve for Bolt EV recall costs of 800 million dollars (88.2 billion yen).”

April-June financial results announcement:

It recorded sales of $ 34.2 billion in the April-June quarter.

Net income was announced at $ 2.8 billion.

The total provision including the recall cost of Bolt EV was $ 1.3 billion.

CNBC and others reported that “Bolt’s recall costs have depressed GM’s performance.”

LG also reserves 1 trillion won:

GM is also paying attention to South Korea in the April-June quarter, reflecting the large-scale provision.

This is because even LG, which supplied the battery, must make a large-scale reserve.

Korea LG Energy Solution:

A defect was found in the battery module, not the battery cell.

LG Electronics, which produced it, is negotiating with GM.

LG Electronics:

At the end of last month, it generated operating profit of 1,112.7 billion won (106.9 billion yen) in the April-June quarter.

However, if the allowance is reflected, operating income will shrink.

LG is expected to have to reserve more than 1 trillion won.

Joongang Ilbo

https://s.japanese.joins.com/JArticle/281677?sectcode=320&servcode=300