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6h ago

GM Reaffirms EV 'End Game' as Barra Embraces Flexible Product Plan

After the $7,500 credit was scrapped, with fuel rules loosened, GM is taking multi‑billion‑dollar charges.

General Motors chair and chief executive officer Mary Barra participates in an Economic Club of Washington discussion on "the transformation of the automotive industry to an all-electric future, the path to autonomous vehicles, and the recent negotiations with GM's workforce" in Washington, U.S., December 13, 2023. REUTERS/Elizabeth Frantz
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Overview

  • Mary Barra told the Automotive Press Association that battery EVs remain GM’s destination, though the transition will take longer without incentives.
  • GM is developing plug‑in hybrids and evaluating conventional hybrids to keep options open while continuing core EV investments.
  • The company disclosed roughly $7.1 billion in fourth‑quarter special charges, including about $6 billion tied to unwinding EV investments and $1.1 billion for China restructuring, bringing 2025 EV‑related charges to about $7.6 billion.
  • U.S. battery‑electric sales fell to 25,219 in the fourth quarter of 2025, down 43% year over year and 62.1% from the prior quarter, even as full‑year EV sales rose to 169,887, placing GM second behind Tesla.
  • Operational shifts include repurposing Michigan’s Orion Assembly for gasoline trucks and selling GM’s stake in the Ultium Cells battery venture to LG Energy Solution.