- 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.
Carlyle to Acquire Altadia Group from Lone Star; Terms Not Disclosed
Carlyle (NASDAQ: CG) announced today that it has agreed to acquire Altadia Group ("Altadia") from an affiliate of Lone Star Funds ("Lone Star"), partnering with current management, led by Vincente Bagan and Antonio Blasco, the original founders of Itaca.
