Just when we thought the saga of the Chevy Bolt EV recall and battery fire was ending, the situation took another strange turn. In June, GM slashed the price of its Chevy Bolt by more than $6,000, then announced a discount for those who bought one before the discount.
Now, it appears that refund has remarkable fine print. GM is offering a cash rebate to make up the difference if you paid top dollar for the Chevrolet Bolt EV and EUV before the $6,000 price cut. However, owners must choose between getting reimbursed and battery defect lawsuits.
According to jalopnik, accepting the refund includes fine print that says drivers must “forever waive and release” their right to sue GM or LG over Bolt EV battery recalls and fires. If you accept the cash refund, you can’t sue GM later if problems arise.
For those unaware, in November 2020, GM issued a recall of the Chevy Bolt EV for battery fires. Then, after realizing that a software update couldn’t fix the problem, GM stopped production and recalled all Bolt EVs.
Almost a year later, in October 2021, GM finally started replacing the battery cells, went ahead with the recall, and resumed production in early 2022. It was a disaster for a while, but eventually, every owner got a new and safe battery pack.
Those who purchased a 2020, 2021 or 2022 model this year are eligible for a rebate of between $5,000 and $6,000 to offset the lower price. Honestly, that’s not such a bad deal, but it does come with strings attached. To get a refund, you give up all rights to sue GM. In addition, the signing of the agreement also releases GM from future recalls.
In the end, the vehicles are relatively safe. I’d take the money and run, but that’s for Bolt EV owners to decide.