General Motors Co. is incurring $1.6 billion in charges tied to its pullback from electric vehicles, a stark indication of the damage that US policy changes will inflict on plug-in cars.
Realigning EV capacity to consumer demand will lead to non-cash impairment and other charges of $1.2 billion, GM said Tuesday in a regulatory filing. The rest of the costs relate to canceling contracts and settling commercial arrangements linked to EV investments and will have a cash impact.
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