GM is looking for a government bailout
We are not seeking a bailout, or a handout. We are talking about loans, which must be repaid in full, with interest.
We are asking Congress to fund a loan program already authorized as part of major energy legislation last year. These loans are specifically designed to accelerate investment in energy-saving technologies, and help carmakers and suppliers more quickly introduce cleaner, more fuel-efficient vehicles.
GM is already investing billions in technologies that help drivers use less fuel, help America reduce its dependence on petroleum, and help GM comply with aggressive new government fuel-economy mandates.
This federal direct-loan program is a powerful and appropriate incentive to speed this transformation, which is vital to our industry, and to the country as a whole.