Tag Archives: 1.6Bn

General Motors (GM) has projected a $1.6bn charge in the third quarter as it revises its electric vehicle (EV) strategy in the light of recent US federal policy changes that could hinder demand. In a regulatory filing, GM indicated that the adoption rate of EVs is anticipated to decline following the cessation of certain consumer tax incentives and the relaxation …

General Motors will record a negative impact of $1.6 billon in its next quarter after tax incentives for electric vehicles were slashed by the U.S. and rules governing emissions are relaxed. Shares dipped 3% before the opening bell Tuesday. The EV tax credit ended last month. The clean vehicle tax credit was worth $7,500 for new EVs and up to …