GM warns of $6B hit to profit on EV pullback as demand plummets
General Motors said Thursday it would take a $6 billion charge to unwind some electric-vehicle investments, the latest car company to pull back from EVs in response to the Trump administration’s policies and fading demand.
The charge stems from reducing its planned EV production and the fallout on the supply chain, GM said in a regulatory filing, and comes weeks after rival Ford Motor announced a similar but much bigger charge.
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Most of GM’s writedown – a $4.2 billion cash charge – is related to contract cancellations and settlements with suppliers, who had planned for much higher production volumes before the market turned.
GM said the writedown would not affect its US lineup of roughly a dozen EV models, which is the industry’s broadest offering of battery-powered vehicles. “We plan to continue to make these models available to consumers,” it said in its filing.
The company will record the charge as a special item in its fourth-quarter earnings report. It expects to incur additional charges in 2026 as a result of negotiations with its supply base, but expects them to be less than its 2025 EV charges.
This is a developing story. Please check back for updates.
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