China’s Sichuan Auto Bidding on HUMMER Brand

Mon, Feb 16, 2009

Hummer News

GM LogoAhead of GM’s viability plan to congress coming tomorrow, more details are emerging about the future of HUMMER. We learned late last week that there were two suitors for the HUMMER brand – a Chinese auto manufacturer, and U.S.-based Platinum Equity. Now, we’re learning the interested manufacturer is Sichuan Auto Industry Group, one of China’s smallest carmakers.

According to Bloomberg, Sichuan Auto has about $146 million in assets, and would use state-owned banks to purchase HUMMER, which could fetch up to $500 million.

The report also stated there are potentially several bidders – which may not rule out other Chinese manufacturers such as Dongfeng, who sells HUMVEE knockoffs to the Chinese Military. Though AM General’s HUMVEE operations are completely separate from GM’s HUMMER operations (and therefore not on the table), the move could help Dongfeng break into the civilian and U.S. market.

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