Detroit Automakers Take $50 Billion Hit
The Detroit Big Three – General Motors, Ford and Stellantis – have collectively announced more than $50 billion in write-downs on their electric-vehicle businesses after years of aggressive investment into a transition that, even before Republican lawmakers abolished a $7,500 federal tax credit last fall, was already running below expectations.

U.S. EV sales fell more than 30% in the fourth qua … ⌘ Read more