Auto announcement forthcoming Monday
President Obama will announce his administration’s strategy to helping remake the automotive industry Monday morning, the White House announced.
Obama will deliver remarks at the White House tomorrow which are expected to grant aid for the companies to restructure, in exchange for stringent conditions.
Among expected provisions are higher fuel efficiency standards for autos manufactured by Chrysler and General Motors.
The companies asked for billions more in bridge loans in late February filings with the government.
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