“So I don't expect any material adjustments from Cathay.”

In context

“doesn't sound like you expect much sort of change to this year, but I was wondering if you could let us know how much you are counting on that expense to be this year. And is it fair to assume you have a if we're comparing 2026 to 2024, you have a potential $1 billion tailwind. From credits. Paul Jacobson: Yeah. Joe, it gets it gets really complicated really fast as you might imagine with the different regulatory schemes. But what's what's in there is CAFE, GHG, state regulations, etcetera. So what we know today is, you know, the the the CAFE penalties under the one big beautiful bill were were zeroed out. So we did have some, balance sheet purchased credits that were there this year, but we also have some expenses that we had that already booked. That's gonna basically be a wash for us. So I don't expect any material adjustments from Cathay. GHG obviously has not been fully answered. We we we have comments from the administration and, you know, in the one beautiful one big beautiful bill, you know, there are changes to future compliance, but we're still working through that across the board. So I think 2025 is a little bit of a transition year as we as we understand what the future landscape is going to be and what how that's going to affect the credits and the liabilities that are on the balance sheet year. But going forward, we do expect to be more, I guess, a lower expense rate for compliance in the future. Mary Barra: And just I would add to that, it also gives us the opportunity to sell EV vehicles excuse me, ICE vehicles for longer and under or appreciate the profitability of those vehicles while we're, you know, month”