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 General Motors Corp. in late-2010. Foreign auto makers and suppliers with facilities in the ...
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