Big Three Automakers seek $50 Billion in Federal Loans to Help Retool Plants

WASHINGTON — Detroit’s Big Three automakers are planning an aggressive push on Capitol Hill as they seek up to $50 billion in low-cost loans to speed the development and production of more fuel-efficient vehicles.

General Motors Corp., Ford Motor Co. and Chrysler LLC would use the money to help pay for retooling of older assembly plants and developing advanced technologies.

The lobbying effort comes as the carmakers face dramatically higher fuel economy mandates and consumers are demanding more fuel-friendly options in an era of high gas prices. The Big Three are revamping their product lineups to include smaller, fuel-sipping models.