GM takes $6 billion hit for backing away from EV’s

(CNN)– General Motors says it will lose another $6 billion as a result of its decision to pull back on electric cars.

This, on top of a $1.6 billion charge, the company disclosed in October for changes to its EV plans.

GM and other automakers invested heavily in EV plans in anticipation of stringent environmental regulations put in place during the Biden Administration.

They also expected some states to follow the lead of California, and ban gas-powered vehicle sales within a decade.

But the Trump Administration has rolled back zero emissions rules, along with the financial support for EV’s.