General Motors Faces $1.6 Billion
Photo: Jeff Roberson/AP/TT

General Motors Faces $1.6 Billion Loss from Electric Car Strategy Shift

American car giant General Motors is making a write-down of 1.6 billion dollars, equivalent to 15 billion kronor, related to changed plans for electric car production.

GM expects that the demand for electric cars will go down as a result of President Donald Trump's decision, including the abolition of the tax rebate on electric cars.

Therefore, GM is now planning to adjust production to fewer electric cars and more towards fossil fuel-driven vehicles.

In this story
AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
Was this useful?

What do you think?

Keep readingmore from Business

All