GM Could Save HUMMER, Two Other Bidders Emerge

It seems like what happened to Saab happens to HUMMER as well, as the American iconic brand, which is set to be scrapped after a failed deal with Sichuan Tengzhong, might be saved by other suitors. The Wall Street Journal revealed that GM is currently negotiating with two bidders, although their names are yet to be disclosed.

Meanwhile, GM winds down the business, but will continue to honor warranties and provide spare parts to owners from all over the globe.

“One year ago, General Motors announced that we were going to divest HUMMER, as part of focusing our efforts on Chevrolet, Buick, GMC and Cadillac going forward. We have since considered a number of possibilities for HUMMER along the way, and we are disappointed that the deal with Tengzhong could not be completed," said John Smith GM vice president of corporate planning and alliances.

"GM will now work closely with HUMMER employees, dealers and suppliers to wind down the business in an orderly and responsible manner."

The exact reason for the failed deal is still a secret, but persons familiar with the matter told the aforementioned source that the Chinese party didn't manage to get regulatory approval.

The exact same things happened in Saab's case as well, with the Swedish brand believed to be closed after GM failed to reach an agreement with Koenigsegg. However, after several rounds of negotiations with other interested bidders, the US-based giant reached an agreement with Spyker, the Dutch manufacturer that managed to close the deal a few days ago.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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