GM, LG Agree to Settle Bolt Battery Fire Claims for $150 Million

General Motors LLC and LG Chem Ltd. agreed to pay $150 million to settle consumer claims alleging a defect in more than 100,000 Chevy Bolt electric cars could cause their batteries to catch fire when they were nearly fully charged.

The parties on Thursday asked the US District for the Eastern District of Michigan to preliminarily approve the deal. Judge Terrence G. Berg is overseeing the litigation.

The settlement will give class members who owned or leased 2017-2022 Chevy Bolts a $700 payment if their car received or is eligible for GM’s most recent and final battery replacement or $1,400 ...