
GM faces US$1.6 billion hit after Trump-era EV policy shift
General Motors will record a negative impact of US$1.6 billion in its next quarter after tax incentives for electric vehicles were slashed by the US and rules governing emissions are relaxed. Shares fell less than 2 per cent before the opening bell on Tuesday. The EV tax credit ended last month. The clean vehicle tax credit was worth US$7,500 for new EVs and up to US$4,000 for used ones. Meanwhile, the Environmental Protection Agency has been working on easing rules aimed at cleaning up auto...