GM takes $1.6 billion hit for scaling back EV plans

Breakdown

• GM reports a $1.6 billion charge due to scaling back its EV plans.
• The decision follows changes in U.S. policy, including the end of some EV tax incentives and relaxed emissions rules. 7s
• GM had planned to sell existing EV inventory to dealers to benefit from credits, but has decided against this approach. 29s
• The company is reassessing its extensive EV portfolio, with some models performing better than others. 1m 38s
• Mid-range EV models may be discontinued if sales do not improve in upcoming quarters. 2m 3s