LG Chem Ltd. shares slumped Monday after General Motors Co. expanded its safety recall of its all-electric Chevy Bolt vehicles carrying possibly faulty LG batteries.
Shares in the South Korean company, which fully owns battery maker LG Energy Solution, fell as much as 9.8% to KRW810,000 in Monday morning trading. The stock was recently 8.9% lower at KRW818,000, underperforming the benchmark Kospi’s gains of more than 1%.
Detroit-based GM said Friday that the expanded recall will cost an additional $1 billion, as it added another 73,000 newer Bolt EVs to its recall campaign....More>>>