WASHINGTON (AP) -- General Motors Corp. Chairman and CEO Rick Wagoner says a comprehensive energy strategy will require a "massive investment in new technologies."
Wagoner is to speak Friday at a Senate energy summit.
He's expected to try to build support for up to $50 billion in loans to the auto industry to help it modernize plants and build fuel-efficient vehicles.
The GM executive says in prepared remarks that the auto industry has an opportunity to move away from an overwhelming reliance upon oil and develop biofuels, batteries and hydrogen fuel cell vehicles.
Senate Majority Leader Harry Reid says he's hoping to secure funding for the loan program this year.
