Zoomi Life

On March 30, President Obama’s viability assessment team looked at GM in light of the requirements that had been laid down for GM to meet in order to qualify for more government loans. Those requirements had a deadline of March 31, which the reports states will obviously not be met.

Read More: GM Considered “Not Viable” by Obama’s Team

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.

Read More: GM to Create Two More Electric Cars in Addition to the Volt

General Motors still thinks it’s in the game and is hoping to get even more stimulus money by building lithium batteries for the Volt in-house. LG Chem, meanwhile, is looking at building a US-based plant as well, but would need guaranteed orders of 50,000 plug-ins per year to justify it–that may be forthcoming soon, however.

Read More: GM Still Has Big Battery Plans - Daimler Does Too

The South Korean company LG Chem has penned a deal with General Motors to build lithium-ion batteries for the Chevy volt until the end of 2015. The company will be setting up a new production line at its Ochang, S. Korea plant for the deal.

Read More: LG to Provide Batteries for the Chevy Volt

Toyota has suspended construction on their new plant in Blue Springs, Michigan indefinitely. The plant was meant to build the Prius for the North American market, starting with the new 2010 model. “Due to the uncertainty in the market, it is impossible to say at this time when production will begin,” Toyota’s official statement says.

Read More: Plant Closures for Prius and Volt, Bankruptcy for Others