UPDATE 1-EU backs car industry call for soft loans for R&D

Newswire

(Adds news conference details) BRUSSELS, Oct 29 (Reuters) - The European Commission on Wednesday backed a call by Europe's carmakers for 40 billion euros ($50.98 billion) in soft loans to help develop cars which meet toughening European Union CO2 emissions targets. "Loan subsidies could be provided via the European Investment Bank," EU Industry Commissioner Guenter Verheugen said after meeting auto industry chief executives including Daimler and PSA Peugeot Citroen . Verheugen said it ...

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