GM Takes $1.6 Billion Hit for Scaling Back EV Plans

General Motors is charging $1.6 billion to reduce electric vehicle production. In a filing Tuesday, the automaker blames weakening federal support and weakening demand. GM warns more pain could be coming as it reevaluates its EV strategy. Steve Man, Bloomberg Intelligence Global Auto and Industrials Research Analyst, joined “Bloomberg Open Interest” to explain what all this means for GM’s future.