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GM Joins Ford with Massive EV Writedown, Takes $7.1B Charge
Benzinga· 2026-01-09 03:50
General Motors Co. (NYSE:GM) has announced it took a $7.1 billion charge related to EVs amid a pivot away from EV efforts. GM had earlier announced a $1.6 billion EV charge.Capacity Changes, Contract CancellationsThe automaker announced it took a $6 billion charge related to EVs, comprising capacity changes and more, an SEC filing showed on Thursday. Of the $6 billion, over $4.2 billion is related to supplier commercial settlements, as well as contract cancellation fees, the automaker said. The other $1.8 b ...