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4h ago

GM’s Barra Reaffirms EVs as the End Game After Policy Shifts Trigger Costly Retrenchment

She says the transition will take longer due to weaker incentives, with charging access still inadequate.

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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

  • Barra restated that battery electrics remain GM’s ultimate direction and said hybrids, including plug-ins, will be deployed selectively while warning many PHEV owners do not plug in.
  • GM expects roughly $6 billion in charges to unwind EV investments, contributing to $7.1 billion in fourth‑quarter special items that also include a China restructuring.
  • Q4 2025 sales of fully electric models fell to 25,219 vehicles, a 43% decline year over year and 62.1% lower than the prior quarter.
  • The end of the $7,500 federal EV tax credit and plans to relax fuel‑economy rules prompted GM to rework product plans and temper near‑term EV spending.
  • Barra said tariffs had a “few‑billion‑dollar” impact last year and pushed GM to shift more production to the U.S., as rivals such as Ford recorded large EV‑related writedowns.