There is new information found in an updated business plan that GM presented to the government on Wednesday. The automaker is requesting an additional $2.6 billion in low interest loans to support the development and introduction of three new electric vehicles.
Specifically this is for the purpose of developing two spinoff cars from the Chevy Volt, and a third hybrid, and raises the amount GM is requesting from the section 136, or ATVMIP loans to $10.3 billion. These loans are intended to help companies build advanced technology high efficiency vehicles and are not related to the government funding GM currently possesses.
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