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Humvee maker AM General reportedly for sale, with interest from FCA, GM

WASHINGTON — AM General has put itself up for sale and has hired investment bank Macquarie Group Ltd to seek potential bidders in a deal that could value the builder of Humvee military vehicles at more than $2 billion, people familiar with the matter said this week. Potential bidders include competitors in the military ground vehicle market, such as General Dynamics, Oshkosh Corp and BAE Systems, according to two people familiar with the matter. Automakers like Fiat Chrysler and General Motors may also be potential buyers. GM licensed Hummer from AM General in 1998 to build civilian SUVs. None of the companies would comment or reply to a request for comment. The South Bend, Indiana-based AM General is currently owned by private equity firms. A possible sale of AM General follows a rash of deals over the past 18 months among defense contractors. But relatively fewer makers of defense equipment have gone on the auction block. Last year, United Technologies acquired Rockwell Collins for $30 billion, and in March, TransDigm Group continued its acquisition spree with a $525 million deal for Extant Components Group. AM General could fetch about 10 times its annual earnings of $160 million, one of the people said. The company's favorable tax treatment because of its current status as an limited liability corporation, would allow a buyer to reduce the company's taxable earnings for 15 years. That coupled with recent contract awards could push the ultimate value of the company to over $2 billion in a sale. The sale, should it happen, comes as the U.S. Army is gearing up for a broad effort to modernize its forces, including seeking prototypes of its Next-Generation Combat Vehicle in fiscal year 2022. Last month, AM General was awarded an Army contract for as many as 2,800 new M997A3 High Mobility Multipurpose Wheeled Vehicle (HMMWV) ambulances. The contract could be worth as much as $800 million if all options were exercised, AM General said at the time. Last year, the Pentagon awarded AM General a $550 million contract to deliver HMMWVs for use as protected weapons carriers, cargo transporters and ambulances to Afghanistan, Iraq, Ukraine, Jordan, Slovenia, Bahrain, Columbia, Bosnia and Kenya as a part of a larger Foreign Military Sales agreement. The sale of AM General offers an opportunity to purchase a prime contractor that delivers a finished product to the Pentagon, and not just an add-on system or service.

Humvee reborn on the battlefield... with a chimney?!

The military's High Mobility Multipurpose Wheeled Vehicle (HMMWV), better known to most of us as the Humvee, has already served a long and distinguished career in the battlefield, and there have been a number of replacements waiting in the wings to take over where the HMMWV left off. Or, should we say, leaves off... assuming that ever happens.
It seems that the Humvee is set to get a new lease on life as military budget constraints are forcing the government to reconsider its replacement. But there are still some pesky safety issues to work out before American soldiers will feel comfortable inside the confines of the off-road box on wheels.
As you're likely aware, improvised explosive devices are an ever-increasing threat to the lives of American troops serving overseas. The Humvee, which traces its design all the way back to the year 1984 when it first saw duty as a replacement for the long-running series of military Jeeps, has seen a number of incarnations over the years that added armor and improved safety, but the latest version may feature something hitherto unseen: a chimney.

Trademark application points to evolution of new Hummer EV logo

A trademark application has revealed yet another evolution of the logo expected to adorn GMC's new Hummer EV pickup truck, bringing back the big "H" badge utilized on the H2 and H3 model lines of the expanded SUV lineup's heyday.  The image included with the filing depicts a logo that should be familiar to Hummer fans (or really any American who left their house between 2003 and 2010), with "EV" supplanting the old numerical model indicator. The "Hummer" and "EV" typeface appears to be a direct lift from a filing that surfaced back in April.  This should provide some comfort to folks who are fans of the idea of a future-proofed, all-electric pickup, but want something that embodies the charisma and road presence of the models sold in Hummer's now-deceased, not-so-environmentally-spectacular incarnation. While we don't yet know really any details of the new all-electric SUV, we do know it will be sold via GMC dealers, meaning the revived nameplate will not bring the rest of the Hummer brand along with it.  We haven't really seen much of the new truck, save for teasers and hints here and there. Even the "reveal" back in June only gave us a vague, big-picture look at the truck's silhouette, and various companion images and videos have hinted at features such as a removable roof assembly.  The truck’s general shape is off-road oriented with squared-off, sharp lines tracing the entire silhouette. Its big, knobby tires and blocky wheels are clear indicators of what GM was aiming for with this electric pickup. As for the SUV, comparisons to the Ford Bronco four-door will be inevitable. If our eyes are picking up the scale of this photo correctly, though, the Hummer SUV appears to be a slightly larger vehicle than the four-door Bronco is. Although, the wheelbase for the SUV is shorter than that of the Hummer truck. ThatÂ’ll help it off-road. Those small bumpers and short overhangs along with the bumper cutouts should be hugely beneficial to approach and departure angles, as well. GMCÂ’s shots of the Hummer in the studio are equally as revealing. We can see what looks to be an intense front skid plate and two big tow hooks. In addition to the off-road gear, GMC has allowed a look at the frunk. The front “grille” is one piece with the hood of the truck, so the whole assembly pulls up. That makes for what appears to be a very easy-to-load front trunk compared to other EVs that force you to lift items up and over the front of the car.