General Motors said it is pumping the brakes a little on its plans for electric vehicles and self-driving cars as new labour deals signed with unions in the U.S. and Canada will cost it almost $9.3 billion US. Despite those costs, the automaker says it plans to buy back up to $10 billion US of its own shares, while also boosting its dividend by 33 per cent. The buyback is the equivalent at Tuesday’s closing price to nearly a quarter of GM’s common stock. Its shares were down about 14 per cent this year before rising 10 per cent to $31.92 on Wednesday. The Detroit automaker also lowered 2023 profit expectations after the U.S. strike by the United Auto Workers (UAW). GM has struggled to boos
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