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

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General Motors Faces $1.6 Billion Loss from Electric Car Strategy Shift
Photo: Jeff Roberson/AP/TT

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.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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