GM Reports $1.6 Billion Loss on Electric Vehicle Rollout

U.S. automakers, including General Motors and Ford, are scaling back their electric vehicle (EV) ambitions due to consumer skepticism, reduced federal incentives, and economic challenges, with GM reporting a $1.6 billion loss tied to its EV strategy. The expiration of the $7,500 tax credit and Tesla’s declining sales further complicate the EV market, as automakers now face uncertainty about future growth and consumer adoption.

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