With General Motors’ (GM) next quarterly earnings report scheduled for release next week, the company has confirmed that a significant expense related to its electric vehicle (EV) business will impact the upcoming results.
Specifically, GM is taking a $1.6 billion charge tied to its EV operations. This sizable one-time expense was disclosed in a recent filing with the Securities and Exchange Commission (SEC).
The company also pointed to a recent policy change by the U.S. government that eliminated tax incentives for new EV buyers. As a result, GM expects EV adoption to slow down in the near term.
These changes have prompted GM to reassess its EV capacity and manufacturing footprint, signaling potential adjustments to its production strategy moving forward.
https://www.shacknews.com/article/146340/gm-ev-1-6-billion-impact
