Detroit’s Big Three car makers – Chrysler, Ford and General Motors – are planning to lobby for $50bn in government loans that would help them avoid bankruptcy and retool for the manufacture of more efficient vehicles, the Wall Street Journal reported on August 27.

In last year’s energy bill, the US Congress committed to lend the car makers $25bn to fund fuel efficiency initiatives. The Journal indicated that the three companies could work together to push for those loans to be made available as well as for additional funds and an easing of some of the conditions attached.

Chrysler, the beneficiary of a US government rescue that began in 1979, was taken private by a consortium led by Cerberus Capital last year, ending nine years of ownership by Daimler, the German car maker.

Chrysler said on August 27 it would explore strategic options for its low-volume Dodge Viper muscle car with the help of Lazard, the investment advisory firm.