DETROIT – Next Tuesday GM and Chrysler have to go before the US Treasury to prove they can be viable and get more government money. At the same time, the French government will give Renault, Peugeot, Citroen, and French auto suppliers nearly 8 billion Euros in aid, or about $10.5 billion. They get it as long as they promise to keep jobs and factories in France.
The loans are being offered with a 6 percent interest rate. The aid package still needs the approval from European competition authorities.
And as long as we’re talking about Europe, Chinese automaker BYD announced it’s choosing Denmark as the place to start selling its electric car in Europe in 2011. According to Gasgoo.com, BYD chose Denmark because it has the best tax policy of all the EU countries regarding electric cars.
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