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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.

This modified Hummer hybrid will go to the South Pole on biofuel

One modified Hummer H1, traveling with another vehicle that looks like a modified Hummer H1, will spend six to 10 days driving to the South Pole, two days camping at the Pole, and take another six to 10 days driving back to the coast of Antarctica. Assuming all goes well. That's not guaranteed, since this blue beast really is - fundamentally, at least - a Hummer H1, not just Hummer-like bodywork over non-Hummer internals like you'd find on, say, the Dakar-winning "Mini." The Zero South team has been working on this vehicle for seven years (we checked it out at SEMA in 2008 and in 2010). The frame, suspension, axles, hubs, differentials, and the body are pure 1998 Hummer, the funky bodywork being from an insulated H1 ambulance, the uprated driveline from an armored H1. The original H1 used a 6.5-liter V8, but here that ICE engine has been swapped for a 3.2-liter turbodiesel V6 straight-six that will run on aviation-grade biofuel pulled from two 30-gallon tanks. Called the Hybrid Polar Traverse Vehicles, the serial hybrids use that engine to power a 216-horsepower electric motor that juices up a 24-kWr battery stored in an insulated, five-foot-long battery box between the frame rails. That battery powers two 200-hp electric motors, one at each axle, that will keep the tracks going through the Antarctic December half-light. We aren't sure what the second vehicle is based on, but its internals mirror the Hummer's, it has the exact same specs, and it looks almost the same except it's painted orange. They will pull a modified Airstream trailer called the "Snowstream," and are planning and eight-episode TV series as well as a feature film to document the expedition.

Tupac Shakur's 1996 Hummer H1 is for sale

Tupac Shakur purchased this 1996 Hummer H1 on August 13,1996. This was just one month before the singer's death. It was his personal vehicle for a brief time and the last vehicle the rapper ever purchased. Now it's up for auction to the highest bidder. It comes with a 6.5-liter turbodiesel V8 engine, an automatic transmission, and only 10,101 miles on the odometer. There are also 38-inch Dick Cepek off-road lights, a 360-degree spotlight, grille guard, and diamond-plate bumpers. An external PA system with three sirens and 12-disc Clarion sound system are also part of the package. RELATED: See Images of the 2004 Hummer H1 There are two copies of the registration listing Tupac as the owner as well as an affidavit listing his mother, Afeni Shakur, as the property successor. The car was held in storage after Tupac's death, and eventually became a prize in a 2003 BET raffle. It is currently sitting in storage again in Vancouver, Canada awaiting the right buyer. RR Auction estimates its value at over $100,000 so it'll take some serious cash to put this car in your driveway. RELATED: See Images of the 2006 Hummer H1 Alpha Related Video: This article originally appeared on Boldride.com. Celebrities Hummer Auctions SUV hummer h1