stripped top suspension mounting bolt - what to do

I will propose a 3rd option;
Cut the threaded part flush.
Locate a metric bolt of the correct size ( diameter, pitch and lengh), cut the head of the bolt.
Have this part welded on the shank.
This option will restore the look and function to "as new"

won't the weld get in the way of being able to screw the nut all the way on?
ie. the weld/join won't have any thread and so will stop the nut short of being able to sit snug up to the shock mounting shank.

sorry had look at good side and thread doesn't need to go all way to back as it allows for oversize washers. apologies newbie here :blush:

strang wrote: won't the weld get in the way of being able to screw the nut all the way on?
ie. the weld/join won't have any thread and so will stop the nut short of being able to sit snug up to the shock mounting shank.

depend on the size of the weld and how flush the shock bushing is.
If it was me, I would reduce the diameter of this side of the bolt to 8mm ( it's 12mm) for about 4mm. The welder can run his bead in this groove.
I will then take a die and clean/thread the welded section flush.

here's what I ended up with.
I cut and ground off the threaded section with a grinder - worked really well and you can get a pretty clean cut-off with this tool.
Then found the correct bolt - it's fine thread and I got one that was hardened steel.
Cut off the desired length of thread from the bolt.
Gave the joining end a shamfer so that there was some space for the weld to sit without interfering too much with the nut. (thanks Luc!)
Got my friendly welding guy (thanks Rob) to weld it on.

Came out pretty well and is just about straight
I agree it's not critical that the thread part is absolutely perfectly straight as the shock sits on the non-threaded inner section. I didn't touch this part so it's all good.
Thanks for your thoughts people.