GM to Announce Big Changes Friday—Watch for Volt News

The Volt is the Future of GM. Or it’s dead. Whatever the case, GM is getting a rumor community that would even make Apple envious.

The ailing Detroit automaker, which has consistently been losing money and looking for ways to cut costs, is expected to announce important changes tomorrow. Reuters, citing sources close to the company, says GM will push ahead with the Volt and continue to invest in hybrids, but it will cut back in other areas.

Jalopnik, meanwhile, has a report that GM will put the Volt on hold indefinitely. The source is an unidentified nephew of an engineer. It’s a bit out there, but within the I-am-your-father’s-uncle’s-roommate standard first unfurled in Mel Brooks’ “Spaceballs.”

Personally, I’m betting on Reuters. GM has bet everything on the car, the company knows the future is in fuel economy. And our future president (not Dick Cheney; that skinny guy) wants to give people tax credits for buying fuel efficient cars. Besides, a significant portion of the engineering is done.

If GM didn’t have the Volt, all the company would have left in terms of assets are delivery vans, scrap metal and old Grand Funk Railroad eight-track tapes left in the lockers of employees laid off in the ‘70s.