US auto parts suppliers are asking for up to $20.5 billion in federal aid to survive the worst industry downturn in decades, the Automotive News reported on Wednesday. Suppliers are asking for $10 billion in direct loans from the U.S. Treasury Department, the magazine said, citing Neil De Koker, president of the Original Equipment Suppliers Association.
The suppliers made the request on February 1 through the Motor & Equipment Manufacturers Association, according to the report.
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