BUSINESSBUSINESS INSIDER
GM swallowed a $10.9 billion pill to reset its EV strategy. It says the worst is nearly over.
General Motors recorded a $2.3 billion charge in the last quarter as part of a $10.9 billion reset of its EV strategy, citing reduced EV deliveries and increased gas-powered vehicle production. The company claims major cash costs from the reset are 'substantially' complete, with its stock rising over 3% following the earnings update.
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