GM falls after flagging $1.6 billion charge on EV capacity realignment

** Shares of General Motors GM fall 3% to $54 premarket

** Co says it will incur charges totaling $1.6 billion in Q3, owing to a realignment of its electric vehicle capacity and manufacturing in anticipation of a slowdown in demand

** GM says charges include a $1.2 billion non-cash impairment tied to EV capacity adjustments, $400 million for contract-cancellation fees and commercial settlements

** As of last close, stock up 4.4% YTD