General Motors reports $7bn earnings loss after pulling back from EVs

General Motors said on Thursday it will record a one-time earnings hit of $7.1bn in its quarterly financial results, mostly due to its pullback from electric vehicles in light of shifting US policies.The Detroit auto giant’s fourth-quarter results will be dented by $6bn in charges connected to reversals on EV investments, according to a securities filing. The remaining $1.1bn includes costs from the company’s restructuring of its China operations.GM’s move follows a $1.6bn write-down in the third quarter du ...