VOLVO GIVEN GREEN LIGHT FOR STOCKHOLM FINANCING OF GREEN MODELS
June 1st, 2009
BY KEITH NUTHALL
THE LIKELIHOOD of a soft landing for Volvo - should Ford divest the Sweden-based car maker - has improved. The European Commission has approved Swedish government loan guarantees covering 90% of Euro 500 million that Volvo plans to borrow from the European Investment Bank (EIB) to help develop new green models. Brussels said on Friday (June 5) it was authorising the guarantee from Stockholm, under temporary liberal state aid controls helping European industry cope with the recession.
European Union (EU) competition Commissioner Neelie Kroes ...
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