The UK government has promised a series of loans to automakers and suppliers in Britain that's supposed to help them navigate the tough economic conditions that the industry now finds itself in. According to Lord Mandelson, Secretary of State for Business, Enterprise and Regulatory Reform, "The actions we and the automotive industry will now be taking together will help the industry build the bridge to a greener future for the auto sector." How so? That's a good question, and one that doesn't yet seem to have a conclusive answer quite yet.
Loans could be used by automakers to add eco-friendly updates to aging plants or for research and development costs into new technologies. Suppliers could use the money to create new parts that automakers would use to increase efficiency. According to the Financial Times, though, it's not likely that any companies that are looking for a piece of the loans will have a hard time finding green programs to justify the government's investment.
[Source: Financial Times]