EU mulls loans for green cars

By Joshua Chaffin and Nikki Tait
Published: October 30 2008 02:00

European carmakers could get up to €40bn ($51bn, £31bn) in "soft loans" from the European Investment Bank to help develop more fuel-efficient technologies, a top European Union official said yesterday.
Günter Verheugen, the EU's industry commissioner, said that loan subsidies could be provided through the EIB in an effort to develop greener cars and meet EU environmental targets, although he said it was ultimately a matter for the bloc's member states and the EIB to decide. Nikki Tait and Joshua Chaffin, Brussels
Copyright The Financial Times Limited 2008