General Motors (GM) will take a $6 billion charge to its EV business due to softer demand and the loss of the federal EV tax credit. The charges include non-cash impairments of $1.8 billion and other cash impacts of $4.2 billion. GM also took a $1.1 billion charge for its China joint venture. GM’s total EV write-down is now $6.6 billion after reassessment. Ford also posted a $19.5 billion charge for its EV business, particularly for the F-150 Lightning. GM will provide more details on these charges in its upcoming earnings report on Jan. 27.

Read more at Yahoo Finance: GM to take additional $6 billion charge to EV business