GM Announces A Third EV Recall -- August 20, 2021

Buffett recently sold a bit of his GM. 

This is the third recall for GM on the Chevy Bolt.

Will cost an additional $1 billion on top of the previous $800 million.

Will involve 73,000 Bolts, 2019 through 2022.

Let's see:

$1 billion / 73,000 Bolts = $14,000 / Bolt. 

The recall will now cover all Bolts. Links everywhere. Here's one.

DETROIT – General Motors on Friday said it is expanding its recent recall of Chevrolet Bolt EVs to newer models of the electric car due to potential fire risks. The recall expansion is expected to cost the automaker an additional $1 billion, bringing the recall’s total to $1.8 billion to replace potentially defective battery modules in the vehicles. 

About 73,000 vehicles in the U.S. and Canada are being added to the recall from the 2019-2022 model years, including a recently launched larger version of the car called the Bolt EUV. 

The former recall involved about 69,000 of the cars globally, including nearly 51,000 in the U.S.

Again, an addition $1 billion / 73,000 additional vehicles ... let me check the calculator again...

$1,000,000,000 / 73,000 =  $14,000 / Bolt. 

And a reminder, until this is resolved, don't park your Bolt in hour garage.