STORY: General Motors said on Thursday it would take a $6 billion charge to unwind some electric-vehicle investments.
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In a regulatory filing, GM said the charge stems from reducing its planned EV production and the fallout on the supply chain.
Most of GM's writedown, a $4.2 billion cash charge, is related to contract cancellations and settlements with suppliers.
GM said the move would not affect its U.S. lineup of roughly a dozen EV models.
This comes weeks after rival Ford Motor announced a similar but much bigger charge.
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Many automakers have been dialing back factory work on EVs since last summer, when U.S. President Donald Trump's massive tax and spending package darkened the outlook for the EV market.
Sales have cratered following the elimination of a $7,500 federal tax credit for battery-powered vehicle buyers on September 30.
General Motors, the largest U.S. automaker by sales, made one of the biggest bets on EVs among global automakers.
At one point, it vowed to essentially phase out internal-combustion cars and trucks by 2035.
GM's shares fell 2% in after-hours trading.
