General Motors has now absorbed $10.9 billion in charges tied to its electric-vehicle strategy reset, the automaker disclosed on Tuesday, as it pivots decisively back toward the combustion-engine trucks and SUVs that generate the bulk of its profit. The latest $2.3 billion write-down, recorded in the second quarter, covers battery-capacity cuts and factory retooling for petrol models. Despite a 31 percent drop in net income to $1.3 billion, GM raised its full-year adjusted operating-profit forecast for the second time, to between $14 billion and $16 billion, citing resilient pricing on high-margin pickups in its North American home market.

The shift follows the September 2025 expiry of the $7,500 US federal EV tax credit, which cooled demand and triggered a wave of industry write-downs. Stellantis, Ford and Volkswagen have together recorded more than $45 billion in similar charges. GM shipped 31,000 fewer EVs to North American dealers than a year earlier, while petrol-vehicle shipments rose by 30,000. Chief Executive Mary Barra told investors the company will begin launching a next generation of Cadillac internal-combustion vehicles next spring, and executives flagged a defence-equipment business expected to generate nearly $700 million in revenue this year.

Viewed from Mexico City, the same reporting season underscored a different kind of expansion. América Móvil, controlled by Carlos Slim, confirmed it had agreed to acquire 100 percent of Wow Perú, a fibre-optic internet provider that has wired all 24 of Peru’s departments in just five years. The deal, still subject to approval by Peru’s competition authority Indecopi, would give the Mexican group infrastructure in regions outside Lima, where nearly half the country’s fixed-internet connections are concentrated. América Móvil separately reported a 9.2 percent rise in second-quarter net profit to 24.3 billion pesos, driven by 4 million new subscribers across its markets, with Brazil adding 1.5 million postpaid mobile customers.

The Peruvian acquisition extends a consolidation strategy that saw América Móvil take 91 percent control of Claro Chile in mid-2025. Analysts in São Paulo note that the group’s Brazilian unit, Claro Brasil, posted a 5.1 percent revenue increase in the quarter, with 5G subscribers reaching 23.8 million. The Wow Perú transaction, however, carries financial risk: the target’s aggressive fibre rollout and the lower purchasing power of its customer base had generated losses, according to a Valmex research note cited in Mexican financial media. The next milestone is Indecopi’s regulatory decision, which will determine whether Slim can integrate Wow’s network into his regional fixed-line portfolio.