On Sunday we learned that GM was closing in on a HUMMER sale with an undisclosed investor, and its expected General Motors will make that message official sometime Tuesday.
According to initial reports, GM has settled on a buyer that could take over as early as the 3rd quarter this year. Under the terms of the agreement, H3 and H3T production would be contracted through GM’s plant in Shreveport through the rest of calendar year 2010. Similarly, production would continue in Mishawaka, IN where the HUMMER H2 is currently built by HUMVEE-maker AM General.
Financial terms and buyer specifics will not be announced, but the new owner will reportedly be committed to expanding the HUMMER portfolio and investing in programs to improve efficiency such as alternative-fuel models.
A Chinese company was likely one of the final two bidders, but it is unknown if they made the final cut.
We’ll have more for you tomorrow as GM makes this HUMMER announcement official.