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Automakers Ask European Union for $55 Billion in "Green" Loans

http://www.autoobserver.com/ 2008/ 10/ automakers-ask...

Automakers doing business in Europe have requested of the European Union 40 billion euros ($55 billion) in low-interest loans to help them develop fuel-efficient vehicles. The loans are patterned after the $25 billion signed into U.S. law by President George Bush last week. The group of 15 carmakers requesting the funds - those that make up the Brussels-based European Automobile Manufacturers' Association (ACEA) -- include Volkswagen, PSA Peugeot Citroen, Fiat and Renault as well as General Motors, Ford and Toyota. Continue reading...

59 days ago

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