GM's $7.1B Writedown: The EV Pivot That Wasn't
General Motors is eating a massive Q4 charge as it walks back its EV aggression, citing demand collapse and the death of federal tax incentives. Translation: they bet big on electrification, the market said no thanks, and now the bean counters are cleaning house. This is what happens when strategy gets ahead of actual customer interest.
GM spent billions on the EV religion and discovered the congregation was smaller than marketing promised. Now they're writing it down and retreating to what they know—which might actually be the smartest move they've made in five years.
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