Detroit’s top carmaker just wrote down $7.6 billion on its EV business—and grew its market cap by the same amount. Here’s how GM did it
via fortune.com
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General Motors shares surged as much as 9% on Tuesday, adding over $7 billion to the company’s market capitalization, after the biggest automaker in Detroit reported earnings. Disclosing a massive $7.6 billion dollar writedown on its electric-vehicle ambitions, the automaker also wowed the Street with blockbuster cash generation, fatter shareholder payouts, and a confident outlook for 2026. […]