STOCKHOLM, Sweden (AP) -- Swedish lawmakers approved a 28 billion kronor ($3.6 billion) aid package Thursday to help prevent the country's auto industry from collapsing.
The plan includes 20 billion kronor in credit guarantees, 5 billion kronor in rescue loans and 3 billion kronor in research funds. It does not include options to buy troubled brands such as Ford Motor Co.'s Volvo or General Motors Corp.'s Saab.
Ford has said it intends to offload Volvo, by either selling it or spinning it off into a separate company, and General Motors has said it is performing "a strategic review" of Saab.
The package was approved by vote of 156-114 in the 349-seat Parliament. Seventy-nine lawmakers abstained or were absent.
The plan was presented last week after industry leaders and unions pleaded for help, but the government ruled out any alternatives that would include state ownership.
Since June, the Swedish automotive sector has cut about 10,000 jobs, or 7 percent of the total.
