GM To Get $1B Shock Due To Chevy Bolt EV Recall

General Motors Co. said it would take a hit of $1 billion to expand the recall of its Chevrolet Bolt electric vehicles due to the risk of fires from the high-voltage battery pack - a black eye for the largest US automaker as it seeks to ramp up EV sales.

Photo Insert: A disabled Chevy Bolt EV being towed

The Detroit company also said it would indefinitely halt sales of the EVs due to the issue and will seek reimbursement from battery supplier LG. The latest recall covers 73,000 vehicles from model years 2019 through 2022, David Shepardson reported for Reuters.

LG officials could not immediately be reached for comment late on Friday. GM shares were down 2.2% in after-hours trade after dipping 0.6% during Friday's regular session.

Earlier this month, South Korea's LG Electronics Inc. cut its second-quarter operating profit by more than a fifth to reflect costs for the GM recalls. LG Electronics has supplied GM with battery modules made with cells produced by LG Chem's wholly-owned battery subsidiary LG Energy Solution.

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