General Motors has taken a $1.6 billion hit tied to its electric vehicle (EV) program, signaling a major shift in the once-booming U.S. transition to electric mobility. The move comes as automakers confront slowing consumer demand, rising costs, and a dramatically altered policy landscape following the end of key federal EV incentives.
The charge, recorded in GM's third-quarter earnings, reflects reduced future production capacity, canceled contracts, and other costs related to its EV business. Executives described the adjustment as a "strategic realignment," acknowledging that previous growth projections no longer matched market realities.
