(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 ...

General Motors will record a negative impact of $1.6 billion in its next quarter after tax incentives for electric vehicles were slashed by the U.S. and rules governing emissions are relaxed. Shares fell less than 2% before the opening bell Tuesday. The EV tax credit ended last month. The clean vehicle tax credit was worth $7,500 for new EVs and up to $4,000 for used ones. General Motors, which had led the way among U.S. automakers with plans to convert production to an electric fleet of vehicles, said ...