GM to take $1.6 billion charge as tax credit blow muddies EV plans

(Reuters) -General Motors said on Tuesday it would take a $1.6 billion charge in the third quarter as it reshapes its electric vehicle strategy following the scrapping of a key federal incentive, a move likely to dampen demand. U.S. carmakers have delayed or canceled new EV models and battery plants and pared other investments, citing weaker-than-expected demand. The market faces further strain after the Trump administration removed a $7,500 federal tax credit for EVs, a key support for the industry. EV ...