GM’s EV Charges Balloon to $7.6 Billion as US Demand Craters (2)

General Motors Co. will take another $6 billion in charges tied to production cutbacks in its electric vehicle and battery operations as the financial fallout spreads from the weakening US market for EVs.

The announcement Thursday brings the total writedowns from GM’s huge bet on battery-electric cars to $7.6 billion, following smaller charges revealed in October. While the automaker warned of an additional financial toll this year, the moves are aimed at minimizing the impact on reported profits going forward.

GM will recognize the latest EV charge and a separate $1.1 billion writedown — largely related to the restructuring of ...