General Motors (GM) and LG Electronics have agreed to a $150 million class action settlement to resolve claims that Chevrolet Bolt vehicles were equipped with defective batteries that could cause fires. This settlement offers financial compensation to affected vehicle owners and includes provisions for improved battery safety. Here’s a complete breakdown of the lawsuit, eligibility requirements, and how to claim your compensation.
Overview of the Chevy Bolt Class Action Settlement
The lawsuit alleged that GM manufactured the Chevrolet Bolt with faulty LG batteries that posed a fire risk. Consumers claim that GM and LG failed to take adequate measures to warn customers or assume financial responsibility for the defect, despite being aware of the issue.
Although GM and LG have not admitted any wrongdoing, they agreed to a $150 million settlement to resolve the allegations and compensate affected vehicle owners.
Who Is Eligible for Compensation?
The Chevy Bolt settlement applies to individuals who purchased or leased a 2017-2022 Chevrolet Bolt EV that was built and shipped to a dealer on or before August 19, 2021.
Eligible class members can receive cash payments based on the remedy their vehicle received or was eligible to receive:
- $1,400 Payment: For class members whose vehicles received a software remedy.
- $700 Payment: For those whose vehicles were eligible for a battery replacement. Former owners and lessees may also receive this payment if their vehicle became eligible for a software remedy after they sold or terminated their lease.
Settlement Terms and Benefits
In addition to monetary compensation, GM has agreed to implement advanced diagnostic software designed to detect battery anomalies, enhancing vehicle safety and preventing further battery-related risks.
How to File a Claim
To receive compensation, eligible Chevy Bolt owners and lessees must submit a valid claim form by February 24, 2025. You can consult our service at Sparrow for an easier process.
Required Documentation
To qualify for a payout, class members must provide proof of ownership or lease, which can include:
- Vehicle registration
- Title
- Lease contract
- Driver’s license or other government-issued photo ID
The claim form and further details can be found on the official settlement website.
Important Deadlines
- Objection Deadline: January 24, 2025
- Exclusion Deadline: February 24, 2025
- Claim Form Submission Deadline: February 24, 2025
- Final Settlement Approval Hearing: March 25, 2025
Conclusion
The $150 million Chevy Bolt settlement represents a significant step toward compensating affected vehicle owners for the risks and inconveniences posed by defective LG batteries. By providing financial relief and implementing safety measures, the settlement aims to restore trust in GM’s electric vehicle lineup.
For those who qualify, submitting a claim by the deadline ensures access to settlement benefits. Stay informed by visiting the official settlement website or consulting legal professionals if needed.
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