GM Settles Bolt Lawsuit for More Than $52 Million, But Only $2,000 Goes to One Individual | Carscoops

      Chevy has recently settled the lawsuit concerning the fire risk associated with the Bolt, and although owners will receive minimal compensation, attorneys will be leaving with tens of millions in settlement fees.

      The settlement for the Chevy Bolt lawsuit, which followed battery recalls, has been finalized. Only 31 plaintiffs were named in the combined class action, with each receiving just $2,000 as part of the settlement.

      Initially, the Chevrolet Bolt was intended to be GM’s solution for affordable electric vehicles, aiming to attract mainstream consumers into the electric age. However, it turned into a cautionary example, hindered by numerous battery-related recalls and fire risks that blemished its reputation before it could fulfill its intended promise.

      GM has now attained a resolution in a significant class action lawsuit regarding the Bolt’s problems, yet the primary beneficiaries are not necessarily those who purchased the vehicle and pursued legal action against the company.

      Multiple class actions were initiated against GM after the National Highway Traffic Safety Administration (NHTSA) began probing reports of fires caused by the Bolt's battery in late 2020. A judge ultimately merged these lawsuits into a single class action, which has recently received final approval for the settlement.

      **Distribution of Funds**

      The settlement, initially announced in 2024, specifies that eligible Bolt model owners who opted out of GM’s 2023 compensation scheme, which provided a $1,400 Visa eRewards card, will now be compensated the same amount. Moreover, former owners or lessees who were eligible for a Chevy software update but sold or concluded their lease before June 13, 2023, will qualify for $700.

      Additionally, each of the 31 plaintiffs mentioned in the consolidated class action will obtain $2,000. Compared to typical class action lawsuit settlements, especially those linked to major defects like this, the payout appears rather low, particularly when considering the legal fees involved.

      **Legal Fees Exceed Customer Compensation**

      The attorneys representing the plaintiffs will obtain an impressive $52.5 million for their efforts on the case. It is likely that some may celebrate the New Year using a portion of this money, or perhaps employers might give substantial bonuses to the attorneys involved.

      Regardless of where this money is allocated, it is unfortunate that only $62,000 is being distributed to GM customers directly affected by the Bolt’s battery problems.