Latest News Updates From David Welch

General Motors will take another $6 billion in charges tied to production cutbacks in its EV and battery operations as the financial fallout spreads from the weakening U.S. market for EVs.

Anderson joined the company as chief product officer in June after working for Tesla and co-founding Aurora Innovation. His job is to bring cutting-edge software and self-driving tech to GM cars.

The total includes 3,400 workers that were furloughed over the summer at its Factory Zero plant in Detroit, where the electric Chevrolet Silverado, GMC Sierra and Hummer EVs are made.

Tariffs have added costs that automakers mostly have not offset with higher prices, and they are reining in investments for EVs that are selling slowly as the government eliminates incentives.

GM plans to release a Cadillac Escalade IQ electric SUV that, when on the highway, allows drivers to go hands- and eyes-free, the company announced Oct. 22.

CEO Mary Barra thanked President Donald Trump for extending through 2030 a tariff discount on some imports for carmakers that produce and sell completed automobiles in the U.S.

GM will give about $6,000 of its own cash for lease support and to keep EV sales going.

Going online is the latest move by CEO Gil West to further grow retail sales, which gets the company much better pricing than selling its rental vehicles at wholesale auctions.

The plan would be the largest deployment of self-driving trucks in North America, according to Gatik, a sign that autonomous freight transport is starting to gain traction.

GM is bracing for the early expiration of $7,500 in consumer tax credits for the purchase of EVs added during the Biden administration that President Trump and the Republican Congress have cut.