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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.

SEMA 2010: Zero South Biodiesel Electric Hummer shows its guts

Zero South Biodiesel Electric Hummer - Click above for high-res image gallery
Zero South, a company that popped up at SEMA in 2008, is back again with its Biodiesel Electric Hummer. The heavily modified H1 rides on tracks at all four corners - a necessary modification, since this Hummer is designed for an expedition to the South Pole.
The trip is going to be documented by Chris Paine, who's best known for the film Who Killed the Electric Car? It was reported back in 2008 that the vehicle was going to be driven by Buzz Aldrin and Apple co-founder Steve Wozniak. The film is called Drive Around the World and was shot in 3D. Drive Around the World is also the name of an organization that works to inspire an urge to explore while raising money for various charities. The H1 shown above is Zero South's vehicle for participating in these expeditions.

2022 GMC Hummer EV shows off accessories ahead of SEMA

As is the case with nearly every new off-roader on the market, the 2022 GMC Hummer EV will have a bunch of accessories available for personalizing the big electric pickup truck. In fact, GMC says that the total number of add-ons is close to 200. But for the SEMA show, it's sharing just a few of what it says are the more interesting accessories. Quite a few of these parts will take you a long way to turning the Hummer EV into an overlander. The most obvious is the roof-top tent that utilizes mounts on the roof and the bed. It looks quite large and roomy. Naturally, auxiliary lighting is available, too, including a 50-inch roof light bar and two smaller spot lights that mount ahead of the A pillars. For storage, there's a nifty swing-out toolbox, shown in the gallery as more of a tackle box, plus a battery-powered cooler and a bed-mount for a full-size spare tire. There's also a more traditional bed extender and simple bed rail-mounted rack. And just for fun, you can get a Kicker audio sound system built into the MultiPro tailgate to listen to your music. Not all the accessories are about utility, though. There are some visual enhancements such as the red decals shown in the gallery. They match other decals and badges available, and they're offered in bronze, too. There are some branded puddle lights on offer as well. These should be available around when the Hummer EV pickup goes on sale next year. Pricing for each part will surely vary, though exact numbers haven't been announced. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.