Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

GM extends EV Bolt production halt to mid-October

Stock MarketsSep 16, 2021 07:55PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A close-up view of the Chevrolet Bolt electric vehicle logo is seen at Stewart Chevrolet in Colma, California, U.S., October 3, 2017. REUTERS/Stephen Lam

By David Shepardson

WASHINGTON (Reuters) -General Motors Co said on Thursday it will extend a shutdown of a Michigan assembly plant to mid-October following a new recall of its Chevrolet Bolt electric vehicles over battery issues after 12 reported fires.

The largest U.S. automaker said the extension of the production halt at its Orion Assembly plant will go through at least Oct. 15. GM also said it was cutting production at six other North American assembly plants because of the ongoing semiconductor chips shortage.

GM said it will not resume Bolt production or sales until it is satisfied that the recall remedy will address the fire risk issue. It said Thursday it had reports of 12 fires and three injuries.

GM shares were largely unchanged in late trading.

GM in August widened its recall of the Bolt to more than 140,000 vehicles to replace battery modules, at a cost now estimated at $1.8 billion. The automaker said it would seek reimbursement from battery supplier LG.

It is not clear how long it will take GM to obtain replacement battery modules for recalled vehicles and whether it will have diagnostic software that will allow it to certify some modules do not need replacing.

GM said the additional three-week production halt at its Bolt plant comes as it continues "to work with our supplier to update manufacturing processes."

Earlier this month GM was forced to halt production at most North American assembly plants temporarily because of the chips shortage.

The new production cuts include a Lansing, Michigan, plant that builds the Chevrolet Traverse and the Buick Enclave.

GM is also cutting production of SUVs like the Chevrolet Equinox, Blazer and GMC Terrain at plants in Mexico and Canada. It will also make further production cuts at Michigan and Kansas plants that make Chevrolet Camaro and Malibu cars.

Separately, Chrysler-parent Stellantis NV Thursday said it will extend production halts at its Belvidere, Illinois and Windsor, Ontario assembly plants by one week through Oct. 1 because of the chip shortage.

The Commerce Department said on Wednesday it plans a Sept. 23 White House meeting with automakers and others "to discuss the ongoing global chip shortage, the impact the Delta variant has had on global semiconductor supply chains and the industry’s progress toward improving transparency."

GM extends EV Bolt production halt to mid-October
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email