The company said it concluded on August 19, 2024 that it must take a material charge of about $400 million for the write-down of tooling assets tied to its planned all-electric 3-row SUVs. It said the charge will be recorded as a special item and involves no cash outlay.

1. 01

   The company said it concluded on August 19, 2024 that it must take a material charge of about $400 million for the write-down of tooling assets tied to its planned all-electric 3-row SUVs. It said the charge will be recorded as a special item and involves no cash outlay.

2. 02

   The company said it may incur up to about $1.5 billion in additional expenses and cash outlays from its decision not to build the planned all-electric 3-row SUVs. It said it will record those amounts as a special item in the quarter they are incurred.

3. 03

   The company said it will use hybrid technology in its next 3-row SUVs. It also said its share of annual capital expenditures devoted to pure electric vehicles will decline from about 40% to 30%.

4. 04

   The company said it plans to start production of an electric commercial van in Ohio in 2026, followed by two new electric pickup trucks in 2027. It also said it is moving the launch of its next-generation electric truck, code-named "Project T3", to the second half of 2027.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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