In a significant legal development, General Motors (GM) has reached a $150 million settlement in response to a class action lawsuit involving the Chevrolet Bolt EV. The lawsuit primarily revolves around battery defects that could lead to fire hazards and create safety risks for owners. If you’re a Chevy Bolt owner or lessee, this settlement might offer you a chance to claim compensation for the issues caused by these defects.
Here’s a detailed look at who’s eligible for the settlement, how much you could receive, and how to submit a claim.
What’s the Chevy Bolt Class Action Lawsuit About?
The class action lawsuit against General Motors and LG Chem (the battery supplier for the Chevrolet Bolt) was initiated due to defective lithium-ion batteries in certain Bolt electric vehicles. These faulty batteries were prone to overheating and, in some cases, catching fire, posing a significant danger to owners.
The issue led to multiple recalls affecting a wide range of 2017-2022 Chevrolet Bolt EV models. Following the recalls and ongoing concerns about battery safety, GM reached a $150 million settlement with affected vehicle owners. The settlement seeks to compensate individuals who owned or leased a Bolt EV impacted by the recall and the defective battery issue.
Who Is Eligible for the Chevy Bolt Settlement?
To qualify for the Chevy Bolt class action settlement, you must meet several key criteria:
1. Ownership or Lease of an Affected Chevy Bolt EV
You must have owned or leased a Chevrolet Bolt EV (or its EUV variant) during the time period affected by the recall, which generally includes 2017-2022 models. If you owned or leased a Bolt EV during that time and the vehicle was included in the recall, you are likely eligible for compensation.
2. Recall Involvement
Your vehicle must have been involved in the recall due to the battery defect. This includes the issue where the batteries were at risk of catching fire, necessitating replacements or repairs. If your vehicle was not part of the recall, you may not qualify for the settlement.
3. Vehicle Registration
You should have the vehicle’s VIN (Vehicle Identification Number) to verify your eligibility. GM and the settlement administrators will use this to determine whether your vehicle is part of the class affected by the recall.
4. Proof of Ownership
To submit a claim, you will need to provide proof of ownership or lease, such as a copy of the title, registration, or lease agreement. This helps verify your eligibility for the payout.
How Much Compensation Will Eligible Claimants Receive?
The $150 million settlement is designed to compensate affected Chevrolet Bolt owners and lessees. However, the exact amount of compensation depends on a variety of factors, such as the severity of the issue and whether the vehicle owner had to replace the battery or undergo other costly repairs. Here’s an overview of the potential compensation breakdown:
1. Reimbursement for Battery Replacements and Repairs
If you had to pay for a battery replacement or repairs related to the defective battery, you may receive reimbursement for those expenses. The amount could vary depending on the cost of the replacement or repair.
2. Cash Payouts
The settlement also offers cash payouts to individuals who were affected by the battery issue. Although the specific amount will depend on the number of claims filed, affected vehicle owners could receive $200 to $5,000. The payout amount could increase if you faced additional issues, such as the inconvenience of not being able to drive the car or safety risks.
3. Additional Compensation
Some claimants may be entitled to other forms of compensation, such as extended warranties or other service benefits, depending on the final terms of the settlement.
How to File a Claim for the Chevy Bolt Settlement
If you’re eligible for the settlement, you will need to file a claim to receive your payout. Here are the steps to follow:
1. Verify Your Eligibility
Check whether your Chevy Bolt is included in the recall by looking up the VIN number or reviewing the recall notice from GM. The settlement notice you received or the official settlement website should provide details on whether your vehicle qualifies.
2. Gather Documents
Prepare the necessary documentation, such as:
- Proof of ownership or lease (e.g., registration or title)
- Service records (if applicable, for battery replacements or repairs)
3. Complete the Claim Form
Once your documents are ready, complete the official claim form. This can usually be done online through the settlement website or by submitting a paper form.
4. Submit the Form
Submit the completed claim form before the deadline specified in the settlement notice. Be sure to follow all instructions to ensure your claim is processed without delay.
5. Wait for Payment
Once your claim is approved, the settlement administrators will issue payments. This process could take several months, so be patient as claims are verified and payouts are processed.
When Will Chevy Bolt Settlement Payments Be Distributed?
The exact timing of the settlement payments depends on the settlement’s approval and how long it takes for the claims process to be completed. Typically, after the settlement is finalized, payments may be distributed within 6 to 12 months.
After your claim is processed and approved, you will receive your payment by check or direct deposit, depending on the method you selected during the claim submission.
Conclusion
If you own or lease a 2017-2022 Chevy Bolt EV and your vehicle was involved in the recall due to the battery defects, you may be eligible for compensation under the $150 million settlement. The settlement offers cash payouts, reimbursement for repairs, and potentially other benefits for those impacted by the defective batteries.
Make sure to check your eligibility, gather the required documents, and submit your claim before the deadline to take advantage of this opportunity for compensation.
FAQs
1. How do I know if my Chevy Bolt is part of the settlement?
You can verify your eligibility by checking the VIN number of your Chevy Bolt to determine if it was involved in the recall.
2. How much compensation will I receive?
The compensation amount can vary but is generally between $200 and $5,000, depending on the extent of the issue with your vehicle.
3. How do I file a claim for the settlement?
To file a claim, complete the claim form and submit it online or by mail with the required documentation (proof of ownership and service records).
4. What documents do I need to file a claim?
You will need to provide proof of ownership, such as the vehicle’s registration, title, or lease agreement, and any service records for repairs related to the recall.
5. When will I receive my settlement payment?
Payments are expected to be distributed 6 to 12 months after the settlement is finalized, depending on the volume of claims and verification process.