General Motors Takes $6 Billion Writedown as Company Scales Back Electric Vehicle Investments
Published on: Jan. 9, 2026, 7:18 p.m. | Source: scanx.trade
General Motors announced a $6 billion writedown to unwind electric vehicle investments, with $4.2 billion in cash charges for supplier contract cancellations. The company will maintain its current dozen EV models despite scaling back production plans. GM shares fell 2% after-hours following the announcement, reflecting broader industry challenges including declining EV sales after federal tax credit elimination.
