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GM becomes the latest carmaker to write down billions in pivot away from EVs

January 9, 2026

General Motors is facing a significant financial hit, reporting a $7.1 billion loss primarily due to its decision to scale back electric vehicle (EV) investments. This writedown comes as the company responds to declining consumer demand for EVs, influenced by changing federal policies and the end of tax incentives.

GM becomes the latest carmaker to write down billions in pivot away from EVs

Key Highlights

GM reports a $7.1 billion earnings loss linked to its pullback from EVs.
The financial hit includes $6 billion in charges related to reversals on EV investments.
Changes in federal policy and the end of tax incentives have reduced consumer demand for EVs.
GM's restructuring efforts in China also contributed to the financial impact.

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

GM becomes the latest carmaker to write down billions in pivot away from EVs

Key Highlights

Sources

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