General Motors is taking a $1.6 billion charge in Q3 to adjust its EV strategy after a federal incentive was scrapped, affecting demand. Automakers are adapting to slowing EV sales and policy changes, with GM expecting a slowdown in EV adoption rates due to market conditions and policy shifts. The company faces a bottom-line impact of $4-5 billion from trade headwinds and tariffs, with shares down 2.5% in premarket trading. GM warns of potential further charges as it reassesses capacity and manufacturing, but current EV portfolio remains unaffected.

Read more at Yahoo Finance: GM to take $1.6 billion charge as tax credit blow muddies EV plans