Automaker cites end of government-funded subsidies and regulatory mandates as it reduces electric-vehicle manufacturing capacity.

To extend the incentive, GM devised a plan to have its in-house lending arm initiate the purchase of EVs in its dealers’ inventory. They've now backtracked.

General Motors said on Tuesday it would take a $1.6 billion charge in the third quarter as it reshapes its electric vehicle strategy following the scrapping of a key federal incentive that is likely to dampen demand.

GM said in a filing with the SEC that the significant investments it made for electric vehicles represent a "material impairment."

General Motors, which led the way among U.S. automakers to convert its fleet to EVs, warned more hits may be ahead as it adjusts under a new administration.

General Motors will incur a $1.6bn charge to scale back its electric vehicle production following the cancellation of tax credits for EV purchases in the US.

Chevrolet is redesigning the Bolt electric hatchback following a mass recall. Here are the EV's major specs and how it has improved with a redesign.

General Motors said it expects to take a $1.6 billion charge in the third quarter as it shakes up its electric vehicle operation because of falling demand. The "Big Three" automaker said it sees declining EV sales with the expiration of U.S. tax incentives. General Motors' electric vehicle plans aren't playing out as it had hoped.

The next generation of the gas-powered Cadillac CT5 midsize sedan is slated for the Lansing Grand River Assembly Plant, General Motors confirmed to the Detroit Free Press on Oct. 15.

General Motors announced a $1.6 billion loss and a scaling back of its electric vehicle operations due to weaker demand following the termination of federal EV tax credits and loosened emissions rules.