GM takes a $1.6 billion hit on EVs.

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GM takes a $1.6 billion hit on EVs.
In a filing with the SEC, the automaker says it needs to take the writedown in order to “reassess our EV capacity and manufacturing footprint” after President Trump and Congressional Republicans voted to eliminate the $7,500 consumer tax credit. And there may be future costs — “it is reasonably possible that we will recognize additional future material cash and non-cash charges” — after it finishes reassessing, GM says.
GM to take $1.6 billion charge as tax credit blow muddies EV plans
[ Reuters ]
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