Under Joe Biden, electric cars were subsidized by the state, Trump is relying on combustion cars.Image: keystone
After Ford, General Motors also has to scale back its electric car targets in the USA.
09.01.2026, 09:0009.01.2026, 09:00
The electric car business is causing the US car giant General Motors a huge write-down. The company will take a $6 billion charge because of cuts in the production of electric cars and batteries.
In addition, there will be a further write-down of $1.1 billion in connection with a restructuring of the China business, GM announced. GM’s arch-rival Ford recently had one Write-down of $19.5 billion for its electric car business.
After Tesla’s success, the major US car manufacturers invested billions to bring more electric cars into their model ranges. They also decided to electrify the pickup trucks that are popular in the USA. But the electric pickups – including the Cybertruck from electric pioneer Tesla – did not sell in the numbers hoped.
Trump let the electric bonus expire
US President Donald Trump’s decision to let the $7,500 electric car bonus expire at the end of September put a further damper on the market. Tesla’s sales also suffered in the fourth quarter under the end of the e-car subsidy. The Trump administration is also relaxing energy efficiency requirements, which gives combustion cars an advantage in the USA. However, US car buyers have long preferred vehicles with combustion and hybrid drives.
Unlike in Europe or China, electric cars in the USA have been languishing for years with a market share of around 10 percent. After the e-car subsidy expired, their share collapsed at the end of 2025.
The share of battery electric e-cars (BEVs) in China, Europe and the USA
General Motors once announced that it would increase production capacity to one million electric vehicles annually by 2025 with investments of $35 billion. The group is now working on reducing the costs of future electric models through new battery technology, among other things.
(oli/sda/dpa)