General Motors Faces $1.6 Billion Hit Amid EV Tax Credit Cuts and Emissions Regulations Softening

General Motors is bracing for a significant financial blow, anticipating a negative impact of $1.6 billion due to reduced tax incentives for electric vehicles and relaxed emissions regulations in the upcoming quarter. This decision comes as the U.S. government recently cut tax incentives for EVs, leading to a rapid decline in GM’s shares by nearly 2% just before the market opening on Tuesday. The elimination of the EV tax credit last month, originally valued at $7,500 for new EVs and up to $4,000 for used models, has dealt a substantial blow to GM’s financial outlook. Additionally, the Trump administration’s efforts…