Cells in GM, Hyundai EV battery fires linked to several LG plants

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By Paul Lienert and Heekyong Yang
(Reuters) - Shares of Korean battery maker LG Chem slid to a nine-month low on Friday as investors digested reports linking fires in General Motors Co and Hyundai Motor Co vehicles to LG batteries from at least two Asia plants.
Documents filed by GM and Hyundai with the U.S. safety regulator show how the two automakers separately identified the same cause of battery fires in their newest electric vehicles, tracing them to similar manufacturing defects in battery cells made at at least two plants operated by a unit of LG Chem.
"Together with our client and partners, LG is actively working to ensure that the recall measures are carried out smoothly," an LG spokesperson said on Friday. "The reserves and ratio of cost to the recall will be decided depending on the result of the joint investigation ...


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