General Motors announced Tuesday that it will book a $1.6 billion hit in electric vehicle investments following US policy changes slowing adoption of the climate-friendly vehicles in its home market.
The changes, which will be included in the automaker’s third-quarter results, follow moves by President Donald Trump’s administration to eliminate a consumer tax credit for EV purchases and water down emission rules that aimed to speed EV adoption in the United States, the company said in a securities filing.
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