DETROIT: General Motors Corp., a wounded company living on cash borrowed from the government, didn’t behave like one Monday as it unveiled ambitious plans to research and assemble lithium-ion batteries in Michigan and picked a Korean company to supply the cells to power the Chevrolet Volt electric car.
But a top executive raised the prospect that GM will need more federal loans later in the year if the U.S. auto market doesn’t improve, saying that the company presented a worst-case scenario to the government last year that would require $18 billion in loans, $4.6 billion more than the Bush administration has granted.
GM unveils battery plan, may need more loans - International Herald Tribune
