The Chevrolet Volt captured the mind of the public and the press when it was revealed during the company's 100th anniversary celebrations in September, though even then it was suspected that trouble was brewing for the company. Last month's announcement of an impending cash shortage and this month's aid requests in Washington are making it clear how tough a spot General Motors is in, but the company insists it has a plan that can guide it through - provided it can get access to $12 billion in loans.
Much of the plan that GM has put forward in its submission to Congress is already underway, with the core elements being increased production of fuel-efficient vehicles, 'rationalization' of brands and dealerships, reduced labor costs, capital asset sales and restructuring and consolidation of manufacturing operations.
The real key, at least in the eyes of Congress, is likely to be the future of GM's product plan. Besides the Volt and Malibu Hybrid (which will be driven to Washington by CEO Rick Wagoner), GM doesn't have a lot on its current slate of efficient vehicles. Future developments are promised, however, with GM stating that over half its fleet will be flex-fuel capable by 2012, with 15 different hybrid models on offer. Further development of hydrogen fuel cell technology, exhibited primarily in its Equinox concept and the Project Driveway test, will also continue.
A three-year window, from 2009-12, focuses heavily on the Volt, however, and other vehicles to be spawned from the Volt's plug-in hybrid drivetrain. An investment of roughly $2.9 billion over that time period in expanding the system to other cars, potentially creating new jobs and - as GM imagines - moving the U.S. to a leadership role in the field.
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