Financial Times FT.com

Detroit three press for loans relief

By Bernard Simon in Toronto

Published: August 22 2008 18:11 | Last updated: August 22 2008 18:11

Detroit’s embattled motor industry is stepping up pressure on the Bush administration and Congress to implement measures that would alleviate its financial distress.

The highest priority is to secure $25bn in low-cost loans provided in an energy bill passed by Congress last December to finance the retooling of plants for more fuel-efficient vehicles, especially hybrid and electric cars.

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