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DETROIT — General Motors’
third-quarter results next week will include a $1.6 billion impact from its all-electric vehicle plans not playing out as anticipated.
The Detroit automaker Tuesday morning in a public filing said $1.2 billion of the impact will be non-cash charges as a result of adjustments to its EV capacity. The other $400 million in cash is primarily related to contract cancellation fees and commercial settlements associated with EV-related investments, according to the filing.
The automaker said its reassessment of its EV capacity and manufacturing footprint is “ongoing,” signaling additional charges could be announced for future quarters.
