General Motors to take a $1.6bn hit as US tax incentives for EVs slashed

General Motors had led the way among US car makers with plans to move to EVs (Alamy/PA)

General Motors will record a negative impact of $1.6bn (€1.4bn) in its next quarter after tax incentives for electric vehicles (EVs) were slashed by the US and rules governing emissions are relaxed.

Shares fell less than 2% before the opening bell on Tuesday.