US car giant General Motors filed for bankruptcy today in a move that will allow it to restructure as a ``stronger and more competitive'' company, President Barack Obama said. The government is to pump billions of dollars into the firm as it takes a majority stake in a ``new GM'' that will be streamlined as a result of its reorganisation. Fritz Henderson, chief executive and president of GM, said it was a ``defining moment'' in the history of the century-old car maker, adding ``today is not the end of General Motors, but the start of a new and better chapter''. President Obama said despite taking a 60% share in the company, the restructured firm would not be run from Washington. ``Our goal is to get GM back on its feet, take a hands-off approach, and get out quickly,'' he added.