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GM Substantially Completed EV Restructuring Following 2Q Charge

Dow Jones
Jul 21

0932 ET - General Motors records $2.3 billion in incremental charges tied to its electric-vehicle restructuring during the recent quarter. Of that, $900 million were supplier-related cash charges, $700 million were cash charges to right-size the battery supply chain with joint venture partners, and $700 million were non-cash write offs for compliance-related and other-asset impairments, CFO Paul Jacobson says on a call with analysts. Jacobson notes that GM has been working with its partners and suppliers to conclude its EV restructuring as quickly as possible. "I'm proud to say that we believe these actions substantially complete the material cash charges we expect to incur as we align our EV capacity and manufacturing footprint with the changes in regulatory policy," he says. (connor.hart@wsj.com)

(END) Dow Jones Newswires

July 21, 2026 09:32 ET (13:32 GMT)

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