With General Motors’ (GM) next quarterly earnings report scheduled for next week, the company has confirmed that a significant electric vehicle (EV)-related expense will impact its results.
Specifically, GM is taking a $1.6 billion charge related to its EV business. This sizable one-time expense was announced in a new filing submitted to the SEC.
In the filing, GM also references a recent policy change by the U.S. government that eliminated tax incentives for new EV buyers. As a result, the company expects EV adoption to slow down.
These developments have prompted GM to reassess its EV capacity and manufacturing footprint moving forward.
https://www.shacknews.com/article/146340/gm-ev-1-6-billion-impact
