GM’s $1.6 Billion Message of Gloom for EV Makers: Liam Denning

Almost exactly a year ago, General Motors Co. was touting a profit tailwind from electric vehicles worth $2 billion to $4 billion. Then, just a little less than a year ago, the US elected a president with a seeming allergy to EVs. Today, Tuesday, GM paid the price. Instead of a tailwind, the company took a $1.6 billion hit in the form of impairments and other charges “following recent US government policy changes.”

That has been something of a theme in 2025. President Donald Trump’s trade war is expected to take $4 billion to $5 billion out of GM’s profits this year, gross, ...