GM receives USD 4 billion from aid package
GM has finally received its first 4 billion US dollars in bailout loans from the US government.
OneShift Editorial Team
05 Jan 2009
This was the amount GM claimed it needed by the end of 2008 in order for them to avoid filing for bankruptcy.
GM will be getting another US $4 billion from the American government by next month.
For GM to be eligible for more low-interest loans, they are required to submit plans which detail the restructuring processes that will return both companies to profitability.
Meanwhile, Chrysler is still waiting for their first US $4 billion in aid from the government.
Credits: JRC
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