No. of Recommendations: 0
GM is taking a $1.6 billion hit after rolling back its EV plans
GM is taking $1.6 billion in charges as it rolls back its ambitious EV plans.
The Detroit automaker said it expects electric vehicle adoption to slow as Trump scraps subsidies.
In 2021, CEO Mary Barra said GM would be all-electric by 2035, but now the company is returning to gas and hybrid cars.https://www.msn.com/en-us/autos/news/gm-is-taking-...Meanwhile, Ford keeps pushing back the startup of it's "Blue Oval City" plant. And, to cover up the closing of Louisville Assembly, and laying off another 2800 USians, has announced another $2B being thrown on the EV fire. My working theory is that, as Farley turns 65 in less than two years, he intends to stuff his pockets full of loot, and leave it to the next CEO to admit their EV program is not viable, and write off the many Billions that Farley blew on EVs, in his quest to obtain the sort of ATP and GP that Tesla enjoyed, a few years ago.
Meanwhile, I have been pretty impressed with Barra. She seems to have a pretty good grasp of reality.
Steve
