The Swedish government has presented a 28 bln kronor ($3.4 bln) support package for the nations’ beleaguered auto industry. The plan consists of a maximum of 20 bln kronor in credit guarantees and up to 5 bln kronor in rescue loans to bail out companies in crisis. 3 bln kronor is earmarked for research and development. Volvo and Saab have been appealing to the government for support due to the financial woes of their US owners Ford and General Motors.