Apr 2
Written by: Sebastian Schepis 200 views
Published on April 2nd, 2009 in Electric Cars
According to information found in an updated business plan that was presented to the U.S. government yesterday, General Motors is currently requesting an additional $2.6B in low-interest loans to support the development of two new electric cars in addition to their planned Volt PHEV.
The additional loans are intended to be applied towards the creation of two new electric cars, in addition to the Volt. The additional loan amount that GM is requesting raises the loan total to $10.3B. These loans are intended to help companies build advanced technology high efficiency vehicles and are not related to the government funding GM currently possesses.
Even if GM has to go through a quick-rinse bankruptcy to cleave off its bad assets, the company should survive lean and mean, and if all goes to plan, will at least have some electric cars to choose from.
Source: 1, 2
Tags: bailout, Chevy, chevy volt, electric car, general motors, GM, phev, volt
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