General Motors will book a negative impact of $1.6 billion in its next quarter after tax incentives for electric vehicles were slashed by the U.S. and rules governing emissions are relaxed. Shares dipped 3% before the opening bell Tuesday. The EV tax credit ended last month. The clean vehicle tax credit was worth $7,500 for new EVs and up to $4,000 for used ones. General Motors, which had led the way among U.S. automakers with plans to convert production to an electric fleet of vehicles, warned that more hits may be ahead as it adjust production under a new administration, and non-cash charges may impact operations and cash flow in the future.
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