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Why GM Doesn’t Have to Pay for Its $2 Billion Bolt Recall

·2 min read
Why GM Doesn’t Have to Pay for Its $2 Billion Bolt Recall

General Motors investors got a pleasant surprise Tuesday morning. Battery supplier LG Chem will reimburse the auto maker for the entire cost of recalling tens of thousands of Chevy Bolt electric vehicles due to the increased risk of battery fires. GM (ticker: GM) stock is up about 1% in premarket trading Tuesday.