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fromFortune
3 days ago

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 | Fortune

GM booked a $7.6 billion EV writedown while delivering strong cash generation, increased shareholder returns, and a confident 2026 outlook, sending shares sharply higher.
fromThe Local Germany
3 months ago

Germany's Porsche loses almost 1 billion on shift back to petrol

German sports car maker Porsche sunk to a third-quarter loss of almost €1 billion ($1.16 billion), the firm said Friday, as it grappled with the costs returning to petrol and delaying its electric vehicle (EV) rollout. Operating profit -- which strips out some costs such as tax -- fell to €40 million for the first nine months of the year. Porsche said in July it had made an operating profit of €1.0 billion since the start of the year,
Germany news
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