Benzinga·2025-12-04 10:19Core Insights - General Motors CEO Mary Barra attributes the growth of the U.S. electric vehicle (EV) market primarily to Elon Musk and Tesla, rather than herself [1][3] - During a past meeting with President Joe Biden, Barra corrected him on the credit for the EV sector's surge, emphasizing Musk's contributions [2][3] - The Biden administration previously excluded Musk from an EV event, a decision that was later criticized by former Vice President Kamala Harris [4] Company Developments - GM announced layoffs of 3,400 workers, including 1,200 at the Detroit EV plant and over 550 at the Ohio Ultium Cell plant [4] - The layoffs coincide with a $1.6 billion charge related to EVs, with $1.2 billion attributed to changes in EV capacity and $400 million due to contract cancellations [5] Market Performance - GM's stock increased by 1.40% to $74.69 at market close and further rose by 0.28% to $74.90 in pre-market trading [8]