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5 months agoGM scales back electric vehicle and self-driving car plans as new labour deals will cost it $10B | CBC News
General Motors plans to scale back its plans for electric vehicles and self-driving cars due to the high costs of new labour deals with unions in the US and Canada.
Despite the cost, GM plans to buy back $10 billion of its own shares and increase its dividend by 33%.
GM's new guidance lowered its expected net income for 2023 and included an estimated $1.1 billion impact from the UAW strike. [ more ]