- General Motors Co (NYSE:GM) extended the production halt at its Chevy Bolt electric-vehicle plant for additional three weeks due to a battery pack shortage, Bloomberg reports.
- The battery crisis pertains to the recent Chevy Bolt EV and EUV safety recall due to fire risks, TechCrunch reports.
- The automaker aims to halt production through the week of October 11. It previously planned to shut the plant through the week of September 20.
- GM would continue to work with its battery supplier, LG Chem Ltd (OTC:LGCLF), to update its manufacturing processes and production schedules.
- General Motors had halted production at the Lake Orion, Michigan plant since August 23.
- It urged some owners of Chevy Bolt electric cars to park the vehicles at least 50 feet away from other vehicles as a precaution.
- Due to the semiconductor chip crisis, General Motors GM had to slash production at six other North American assembly plants.
- Price Action: GM shares closed lower by 0.58% at $51.52 on Thursday.
Compass Diversified Offers Update On Its Capital Structure
Compass Diversified (NYSE:CODI), an owner of leading middle market businesses, today provided an update on its capital structure.
Compass Group Diversified Holdings, LLC (the “Company” and, together with
