General Motors

The giant automaker is taking a hit as the market for electric vehicles is reshaped by the Trump administration's removal of tax credits and other incentives.

General Motors will launch the Chevrolet Bolt electric vehicle in December with one shift at its plant in Kansas, less than the two shifts initially planned.

Among companies that have disclosed financial projections, GM sees a $5 billion hit this year, while Apple expects $900 million in higher costs this quarter.

Automakers are lobbying against lawmakers immediately ending popular electric-vehicle tax credits that President Trump has railed against.

The company said the city used the presence of its Cruise self-driving unit to tie its tax bill to a portion of its global revenue.

GM is pushing the Treasury to change the definition of a sport utility vehicle and expand how many buyers can get electric-vehicle tax credits.

For EVs to qualify, their batteries will need to contain minerals extracted from or processed in a country the U.S. has a free trade agreement with, and a portion of components to be manufactured or assembled in North America.

The expansion of a tax credit for electric vehicles isn’t likely to appear in a broad deal being negotiated by House and Senate leaders, and backers of the popular tax break say President Donald Trump is to blame.

U.S. lawmakers led by Senate Finance Committee Chairman Charles Grassley are negotiating a potential revival of expired tax breaks in last-minute negotiations over a government spending bill.

A bipartisan group of senators introduced legislation that would extend a lucrative tax break that could benefit Tesla and GM.

The Big Three automaker has sold 200,000 electric cars.

Senate Finance Committee Chairman Orrin Hatch questioned President Donald Trump’s call to end a tax break for electric cars made by General Motors Co. and others following the company’s announcement that it would lay off workers and close plants.

A legislative repeal of the credit could actually end up giving GM a better competitive position.

Corporate America, and even Republican leaders, have warned President Donald Trump that his trade war could end up erasing some of the savings reaped from the sharp cut in the corporate tax rate.

Tax cuts signed by an America First president are turning out to be a major boon to some of the world’s biggest automakers—except those based in the U.S.

The push by Tesla Inc., General Motors Co. and other carmakers to boost sales of electric vehicles was dealt a blow by House Republicans who on Thursday proposed eliminating a $7,500 per vehicle tax credit that has helped stoke early demand.