GM to take $1.6 billion charge related to EV pullback

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DETROIT — General Motors' third-quarter results next week will include a $1.6 billion impact from its all-electric vehicle plans not playing out as anticipated.

The Detroit automaker Tuesday morning in a public filing said $1.2 billion of the impact will be noncash, special charges as a result of adjustments to its EV capacity. The other $400 million in cash is primarily related to contract cancellation fees and commercial settlements associated with EV-related investments, according to the filing.

The automaker said its reassessment of its EV capacity and manufacturing footprint is "ongoing," signaling additional charges could be announced for future quarters.

The charges will be reported as special ite