00:00It's Benzinga bringing Wall Street to Main Street.
00:02General Motors is shifting production at its Ohio facility away from EV drive units and
00:06tour transmissions for gas-powered vehicles, according to CNBC. While the pivot follows
00:11Trump's newly announced 25% tariffs on auto imports, GM says the decision is unrelated
00:16and driven by market demand for internal combustion engine vehicles. GM previously
00:20invested $760 million to transform Toledo into an EV drive unit hub, but has not yet
00:26produced retail units there. Trump's tariffs are reshaping the auto landscape, with some
00:30companies accelerating U.S. investments. Analysts estimate the tariffs could add over $100 billion
00:35industry-wide costs by 2025, with new parts tariffs set to take effect by May 3rd.
00:42For all things money, visit Benzinga.com slash GSTV.
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