Automakers seek $6 billion in Canadian aid

by Jordan Yerman | December 6, 2008 at 09:11 am

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Even as Detroit's Big Three scramble for a chunk of the bailout pie, their Canadian subsidiaries are doing the same north of the border.

"Regretfully, North American economic conditions now make it necessary for us to seek government assistance to sustain our business and supply chain," Arturo Elias, General Motors Corp.'s top executive in Canada, said in a statement.

GM, Canada's largest automaker, confirmed it is seeking $2.4-billion in repayable loans from Ottawa and Queen's Park, including an immediate $800-million infusion.