Auto Makers Gain Direct Loans; Distribution Timetable Unclear

U.S. auto makers and parts suppliers win funding for $25 billion in direct loans included but not paid for in last year’s landmark energy bill, although it remains unclear how soon the money will arrive in Detroit.

The low-interest loans are meant to finance facility retooling to produce the next generation of advanced technology vehicles, such as the ’11 Chevrolet Volt electric vehicle due from