October 16, 2021
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Rekor Systems Announces Selection of Waycare Technologies by Louisiana Department of Transportation and Development for Pilot Program to Reduce State Traffic Congestion and Crashes
California homeless camp fire damages 2 bridges, disrupts public transportation
Austin finishes half of its bicycle network, expects to complete entire 400-mile system by 2025
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Oregon Transportation Commission, wary of I-5 Rose Quarter project’s growing price tag, grants conditional approval
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Transportation Department cracks down on airlines withholding refunds for canceled flights
Bear gets trapped in car, destroys interior
Cycling apparel company adding full-service bike repair to visitor center
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Rekor Systems Announces Selection of Waycare Technologies by Louisiana Department of Transportation and Development for Pilot Program to Reduce State Traffic Congestion and Crashes California homeless camp fire damages 2 bridges, disrupts public transportation Austin finishes half of its bicycle network, expects to complete entire 400-mile system by 2025 The Top 10 Automotive Concepts that automotive enthusiasts will be itching to see on the road! Oregon Transportation Commission, wary of I-5 Rose Quarter project’s growing price tag, grants conditional approval Woman dies after being hit by car in North Windham Friday night Silk-FAW Continues To Poach Italy’s Automotive Talent, As Lamborghini’s Katia Bassi Joins As Managing Director Transportation Department cracks down on airlines withholding refunds for canceled flights Bear gets trapped in car, destroys interior Cycling apparel company adding full-service bike repair to visitor center
Aug
2021
26

South Korea’s LG Chem shares dive on GM electric car recall

SEOUL – GM on Friday expanded its recall of Bolt electric vehicles (EVs) due to fire risk from what it called battery manufacturing defects, saying the recall would cost $1 billion and that it would seek reimbursement from LG.

The U.S. automaker said the recall covers vehicles beginning model year 2019 and that it would indefinitely halt Bolt sales. LG Chem said it was working to ensure a smooth recall.

LG Chem, which is preparing an initial public offering (IPO) for battery unit LG Energy Solution (LGES), lost $5 billion in market value with its stock on track for its biggest intraday percentage loss since March 2020.

GENERAL MOTORS AND LG ANNOUNCE $2.3B TENNESSEE BATTERY FACTORY

“The market expected that LGES would launch its IPO in September, but with GM’s expanded recall, LGES IPO is likely to be delayed for a month or two, because the company needs to reflect the recall cost before finalising the IPO paperwork,” said Samsung Securities analyst Cho Hyun-ryul.

GM initially recalled 69,000 Bolt cars in July. Its expanded recall comes about a week after a fire involving a Volkswagen AG ID.3 EV carrying an LGES battery. 

LG Chem Ltd shares slid nearly 10% on Monday after General Motors Co said it would recall an extra 73,000 Chevrolet Bolt cars that use the South Korean firm’s batteries, months after a similar recall by Hyundai Motor Co. (Photo by Gerard Bottino/SOP

Six months earlier, Hyundai recalled 82,000 EVs over LGES battery fire risk at an estimated cost of about 1 trillion won ($851.90 million).

Both GM’s and Hyundai’s recalls involve pouch-type batteries, rather than cylindrical batteries supplied to LGES customers including Tesla Inc.

In February, South Korea’s transport ministry said a joint investigation with LGES and Hyundai found defects in battery cells at an LGES factory in China. The investigation is ongoing.

Neither LGES nor Hyundai have disclosed how they plan to split recall costs, though analysts expect LGES to assume 60%.

Stocks in this Article

Batteries are a massive component of LG Group earnings. LG Chem earned 40% of operating profit from batteries – including EV batteries – in April-June. Earlier this month, LG Electronics Inc cut its second-quarter operating profit by more than a fifth to reflect GM recall costs. 

CLICK HERE TO READ MORE ON FOX BUSINESS

Shares of LG Electronics, which assembles LGES cells into battery modules, fell as much as 5.8% on Monday. That compared with the local benchmark which was up 1.5% around noon.

($1 = 1,172.5900 won)

Mar
2020
31

Free VIN Decoder | Vehicle Information, License Plate Number, Recall Info

Our Free VIN Decoder will allow you to lookup any VIN number on any vehicle in the United States. A VIN Number is a Vehicle Identification Number. It is the identifying code for a specific vehicle. This can be a car, truck, van, SUV, motorcycle, RV and more. Every vehicle that was manufactured in the United States has a VIN number stamped on it in multiple places on the vehicle. The most noticeable location you can find a VIN number is on the dash board. You might also find it on the frame of the vehicle, on the engine block or on the body stamped on the door. With all modern cars, manufactured in the last 20 years, the VIN number is a 17 digit alpha-numeric code. It will be in all capital letters and typically stamped on a piece of metal. All you need to do is find that VIN Number and enter it into our Free VIN Decoder and we’ll show you everything you ever wanted to know about your vehicle.

Free VIN Decoder Results

What you will find using our Free VIN Decoder is a multitude of vehicle information. Since the VIN number is applied by the manufacturer it will include details such as; Year, Make & Model, Engine & Body Type, Interior & Exterior Options, Fuel Type, Suspension& Braking Information, Electronics & Power Options, Airbag & Safety Information and dozens more. Additionally with the Free VIN Decoder you can find the License Plate Number & potentially owner information if you sign up for our premium services. There you can search unlimited license plate numbers and VIN numbers. You can access all this information and more from any device that has internet access. All searches are anonymous and confidential and no one will ever know you’re looking up their VIN Number or information.

With this VIN Decoder you can find all the pertinent information about your vehicle as well as
uncovering the vehicle history. A VIN check can offer you insights that can be very helpful when
purchasing a used vehicle such as; owner information, accident history, safety and recall information
and NHTSA data.

Another helpful feature of the VIN Decoder is you don’t need to know the make and model of the
vehicle you’re performing a VIN lookup on. The 17 alpha-numeric VIN code has all that information
imbedded in there. This means all you need is a VIN number to find the truth about any vehicle.

VIN Information is public record so anyone with an internet connection and a computer, tablet or
smartphone can access this information instantly. Make sure to double check the VIN number when
entering it in the VIN Decoder as one misplaced character can change the specs of the vehicle
completely.

All VIN Searches are anonymous and confidential, no one will ever know you’re looking up their vehicle
information.

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