US bail-out collapse is a lost chance for greener cars

The news that the $14bn bail-out loan for US carmakers has been rejected by the Senate has wider implications for the development of green cars, claims green car advisory website, TheGreenCarWebsite.co.uk:

“Its sad news that the bail-out bill has been rejected,” says the website’s editor, Faye Sunderland.

“Although there was some opposition on the grounds that the loan money could come from Section 136 funds which were allocated for green development and meant to help the carmakers build fuel-efficient, advanced technology vehicles, this is really a moot point in the sense that the car manufacturers would have been tied to an agreement to use the loan money for the manufacture of greener cars as part of their restructuring and redevelopment.

“There was an opportunity for the US to start to move ahead and take the lead in green cars which would have been felt through out the automotive industry; with General Motors and Ford's large UK presence we could have expected this innovation to quickly hit the UK. This is undoubtedly an opportunity lost” she concludes.