The automotive industry will require $ 50 billion of public loans

The American automakers want to request $ 50 billion of aid in the form of soft loans over three years to modernize their assembly plants and create a new generation of energy-efficient vehicles.

Manufacturers have specified that these loans, two times the energy bill last year, are a priority of the Senate year in September, due to the declining health of their industry in Detroit and tighter credit conditions .

These loans could represent 30% of the cost of the necessary development of hybrid vehicles factories, electric cars and other alternative modes of transportation.

The Detroit automakers have suffered this year the economic downturn and the fact that consumers hijack SUV vehicles too greedy energy. General Motors Corp. announced losses of $ 15.5 billion (10.4 billion euros) in the second quarter, Ford 8.7 billion (€ 5.8 billion).

The future of the automotive industry is an issue in the election campaign in the Midwest. John McCain was opposed to the request, preferring to give credit to purchase $ 5,000 for consumers to buy vehicles respectful of the environment. But Friday, he operates a reversal in approving the demarche. "I believe that we must act to help Detroit and this fund in this difficult time of transition," said Senator from Arizona.

His Democrat opponent had already expressed support for the loan program and greening industry over ten years, equips 150 billion loans.