Green Options » auto makers http://greenoptions.com/tag/auto-makers Posts tagged 'auto makers' Thu, 18 Sep 2008 13:27:18 +0000 http://wordpress.org/?v=2.5.1 en Ford, GM, Chrysler Set for $25 Billion in Government Loans http://redgreenandblue.org/2008/09/18/ford-gm-chrysler-set-for-25-billion-in-government-loans/ http://redgreenandblue.org/2008/09/18/ford-gm-chrysler-set-for-25-billion-in-government-loans/#comments Thu, 18 Sep 2008 13:27:18 +0000 Andrew Williams http://redgreenandblue.org/2008/09/18/ford-gm-chrysler-set-for-25-billion-in-government-loans/ Following a meeting earlier this week with House of Representatives speaker Nancy Pelosi, the ‘big three’ US automakers Ford, GM and Chrysler, are optimistic about their prospects of receiving a multi-billion dollar loan. Pelosi told reporters in Washington yesterday that she plans to unveil a $25 billion finance package next week, which will probably be added to a ’stopgap’ government funding bill.

When (and if) finally approved, much of the loan will be used to convert production to smaller, more fuel efficient vehicles, which are increasingly popular in Europe as a result of the escalating energy crisis. The money will also be added to existing U.S. Advanced Battery Consortium grants to help fund the development and manufacture of next-generation battery technology, such as those used in the forthcoming Chevrolet Volt.

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