US Government in $25bn plan to help car industry go greener
Fri 26 September 2008
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The US House of Representatives is set to approve proposals for a £25bn package to support the US car industry. Support is to come in the form of low interest loans, enabling US car companies to help reconfigure their manufacturing plants to help them meet new fuel efficiency standards and accelerate development of low carbon vehicles.
Congressional Democratic leaders have expressed their support for the proposals with House of Representative Speaker Nancy Pelosi describing the low interest loans package as "very important to our country".
The funding is also expected to support efforts to scale up the production of alternative fuel cars such as electric vehicles.
America's car industry has been under pressure, particulary as a result of advances by Japanese producers. There has also been a rapid decline in sales of SUVs and larger vehicles in the last year where US car makers have dominated.
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