As EV Dream Fades, Ford — Not GM — Is the Auto Stock to Buy

Core Viewpoint - General Motors announced a $6 billion charge due to the scaling back of several electric vehicle initiatives, which includes contract cancellations with suppliers and reduced production plans [1] Group 1: Financial Impact - The company is taking a significant $6 billion charge related to its electric vehicle initiatives [1] Group 2: Strategic Changes - The charge is associated with scaling back on electric vehicle projects, indicating a shift in strategy [1] - The company is canceling contracts with suppliers as part of this strategic adjustment [1] - There are also plans to reduce production levels for electric vehicles [1]