This would be nothing compared to the billions pored into the two bankrupt American manufacturers earlier this year. The Retailer Council made this proposal after the deal with Penske, which they supported, crashed.
"This is well within the parameters of grants already made through the Act, and will save 13,000 jobs, avoid the closure of 350 Saturn dealerships, and preserve millions in tax revenue," Ingersoll said in a release. "The Act has millions of dollars allocated for energy projects, including electric vehicle technologies, which is in perfect alignment with Saturn's historic commitment to distributing environmentally friendly vehicles."
When it backed out of the deal, Penske Automotive gave a somewhat unsatisfying explanation. According to the group, the deal, which had been on the table ever since June, failed to conclude "because of the inability to source new products beyond what it had asked GM to build on contract." As a result, GM seems to be determined to put Saturn to rest, without considering any alternatives.
"Applying for and eventually receiving a $250 million grant from the American Recovery and Reinvestment Act is a solution that can be a win-win for everyone involved, using taxpayer funds to preserve jobs, maintain tax collections and allow Saturn to further help our economic recovery," the retailer added.
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