There has been plenty of speculation on who may be interested in purchasing the HUMMER brand from GM, although recently, everyone seems to be in denial mode.
Two companies that were said to be in talks with GM were India’s Mahindra & Mahindra and Russian billionaire Oleg Deripaska, and now both are denying any interest in purchasing the brand. “There has been a lot of speculation. I want to say categorically we are not pursuing Hummer,” said the vice chair of Mahindra. Oleg Deripaska’s company Russian Machines also echoed that sentiment, saying it has “no strategic plans” to pursue an acquisition of HUMMER. After receiving many media requests, Russian Machines added that it “has not received any proposals to consider such an acquisition.”
What about China? Chinese manufacturer Changfeng was reportedly in talks with GM, but decided not to continue after touring HUMMER’s U.S. production facility, claiming the brand had limited potential. According to the same Reuters report, other Chinese manufacturers like SAIC Motor Corp and Dongfeng have also said they have little interest in the brand.
All these denials come after GM’s chief Rick Wagoner saying there is “significant interest” in the brand.