TORONTO - The Canadian divisions of the Detroit Three automakers are seeking a total of $6.8 billion in loans and credit lines from Ottawa and Ontario.
Chrysler Canada has asked the Canadian government for $1.6 billion in emergency loans while General Motors is seeking $2.4 billion in repayable loans.
GM is also seeking $800 million immediately to get through their liquidly problems.
A source knowledgeable with the numbers says Ford Canada is seeking a $2 billion stand-by credit line.
It's not asking for any money up front.
The Detroit Three automakers were expected to announce their requests today, although Chrysler declined to provide numbers.
It said only that the figure would be proportional to the US$34 billion the three automakers were asking of the U.S.
Ontario Economic Development Minister Michael Bryant had warned that the figure was going to look big to taxpayers, but declined to provide an exact figure.
