GM gets another $4B from U.S.
Struggling automaker now owes government nearly $20 billion, says it will need another $7.6 billion by June 1.
DETROIT (Reuters) -- General Motors Corp Friday said it had borrowed another $4 billion from the U.S. Treasury, taking its total federal funding to $19.4 billion.
In a filing with the U.S. Securities and Exchange Commission, GM (GM, Fortune 500) also said it expected to need another $7.6 billion from the U.S. Treasury after June 1.
GM did not detail its plans for the additional loans but said it had provided a statement on its intended use of the funds to U.S. Treasury officials who approved the funding.