General Motors Corp's restructuring proposal says the company may need up to $US30 billion ($A47.02 billion) in government loans as it implements a survival plan that includes cutting 47,000 jobs and closing five more US factories.
GM submitted the dire plan to the Treasury Department on Tuesday to explain how the Detroit carmaker will become viable and repay its loans.
It says GM will try to borrow up to $US16.6 billion ($A26.02 billion) more from the government, on top of the $US13.4 billion ($A21.0 billion) it has already received.
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With the restructuring, GM expects to start repaying the government in 2012 and fully pay off the loans by 2017.
