GM faces US$1.6 billion hit after Trump-era EV policy shift

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...

Chinese robotaxi firms Pony.ai, WeRide on road to Hong Kong IPOs

Chinese robotaxi firms Pony.ai, WeRide on road to Hong Kong IPOs

Pony.ai and WeRide, two leading robotaxi operators in mainland China, have taken their first steps towards share offerings on the Hong Kong stock exchange by filing fundraising plans with the securities regulator. They will join a clutch of mainland companies seeking to tap global investors’ growing interest in China’s electric vehicle (EV) industry as the key players accelerate their global expansion plans. According to documents published by the China Securities Regulatory Commission on...