Write-downs of power plants, auto factories and fossil-fuel reserves could cause big losses in the transition to renewable energy
At the end of 2019, General Motors Co. announced a $1 billion investment to produce a new generation of Chevrolet Colorado and GMC Canyon pickup trucks at its factory in Wentzville, Mo.
Just over a year later, GM said it would go all electric by 2035. Analysts are worried that some of the new Wentzville machinery could end up on the scrap heap, adding to a multitrillion-dollar pile of assets that will lose value as the country shifts away from fossil fuels.
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