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GM Asks The US Government for $2.6 Billion in Loans to Produce New Hybrids

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GM has asked the U.S. government for an additional $2.6 billion in loans to support the development of new hybrid vehicles.

The loan request would help the development of two spinoffs of the upcoming Chevy Volt. This is the first time that GM has confirmed plans to produce spinoffs of the Volt. In January, GM unveiled the Cadillac Converj concept which was based on the mechanicals of the Volt. GM executives have stated that GM plans on using the Volt system in other models to raise volume and reduce costs.

Full Story: Reuters

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