CNBC: LG to pay up to $1.9 billion to General Motors over Bolt EV battery fires

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I'll bet LG wishes it had that $1.9 billion to invest in R&D to further develop their batteries.
As different battery and vehicle manufacturers are trying to catch up with Tesla the danger of rushing products to market is great. I don't think the Bolt EV battery fires will be the last of such issues.
 

4WD

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The same team that designs the LG line of appliances apparently worked on their EV battery development as well.
LG reliability has been here or there for me … even when I lived in Korea …
Back to Maytag when I can …
 

4WD

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LG has annual revenue in the hundreds of billions of dollars. $1.9 billion won’t be missed.
Only this will give rise to more lawsuits … and, have you ever seen more law firms advertising like these days 😳
 
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I bought a nice LG fridge when we remodeled the kitchen. Lasted maybe 5 years and then the freezer went south.
My appliance guy sez he sees 2 of these problems a week. Went back to KitchenAid.
 
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Yep. Samsung and LG kitchen appliances we don't buy. No, no, no, no.
I hear you on that. Our Samsung gas dryer required a new motor at 4 years - repair set me back $350. LG dishwasher failed in 4 years - just tossed it. We also have a Samsung gas oven/range that is about 4 years old, without problems. So hit and miss with these two brands. Our GE top load washing machine, Amana fridge and Bosch dishwasher are winners though - no problems at all. It is weird going into someone else's home and seeing them have all the same brand for every appliance, when our home has every brand out there all mixed up like a frankenstein monster.
 
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In 2008 I bought a LG too load washing machine. Made in South Korea. This was in SE Asia. It still works from what I hear.
 
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LG has annual revenue in the hundreds of billions of dollars. $1.9 billion won’t be missed.
Umm.... that's $1.9 billion with a B. They may have hundreds of billions of dollars of revenue but almost 2 BILLION dollars would go a long way in their battery R&D department. I guess a billion dollars isn't what it used to be though, maybe they need a couple trillion. Like what you know who wants to waste on pork projects.
 

OVERKILL

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LG has annual revenue in the hundreds of billions of dollars. $1.9 billion won’t be missed.
LG Chem definitely doesn't:
Screen Shot 2021-10-14 at 3.30.32 PM.png


Which is the company that makes batteries. The $1.9 billion would wipe out an entire year's worth of their NET income if those numbers are still reasonably close to being current.

EDIT:

Looks like the last few years have not been as good:
Screen Shot 2021-10-14 at 3.32.38 PM.jpg
 
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In 2008 I bought a LG too load washing machine. Made in South Korea. This was in SE Asia. It still works from what I hear.
LG (the appliance arm) offshores a lot of their appliance production to Vietnam (Korean labor costs are more than the US right-to-work states). A new appliance plant is being built in Tennessee, but I imagine some LG appliances will be still imported from Vietnam
 
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LG might have insurance for at least part of this, there are unique coverages manufacturers can purchase.

My family's luck with LG has not been good. Lost 2 TVs and a refrigerator compressor before the 3 year mark...at least the refrigerator was fixed under warranty. I had a brand new 4 ton central AC installed and the LG compressor locked up the next day.
 
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