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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.

GMC and EarthCruiser to collaborate on Hummer EV Pickup overlander project

GMC just announced a collaboration with overlanding vehicle builder EarthCruiser, and the end result is going to provide us with a co-developed Hummer EV Pickup. The photo you’re looking at above is the first teaser for whatÂ’s to come of the partnership. The Hummer team will be working with EarthCruiserÂ’s research and design division to develop an overland upfit solution for EVs that it says will initially be integrated into the Hummer EV Pickup. In case you werenÂ’t familiar with EarthCruiser, theyÂ’re the people that have made utterly wild overlanding vehicles like the Terranova, FX and EXP. Needless to say, EarthCruiser makes some pretty rad stuff, and none of it is cheap. GMC says this collaboration will look to use EarthCruiserÂ’s expertise gained from developing its vehicles to create an overlanding solution for the Hummer. We should expect to see EarthCruiserÂ’s engineering technologies integrated into the vehicle, which will allow the Hummer to go even further off-road and provide the ability for owners to live with their trucks in the wilderness.  The one snag with overlanding in EVs is the typically long journeys away from civilization. As an example, the EarthCruiser XP and EXP feature 60-gallon fuel tanks to ensure you can get to where you need to go and power the living situation for a long time once youÂ’re there. WeÂ’ll be interested to hear what GMC and EarthCruiser have to say about the challenges presented by overlanding in an EV. Already visible in the teaser image is what looks like a solar panel-filled roof and rear side pods for supplies. The concept truck will be presented in late summer 2023, and while no date for a production vehicle was provided, itÂ’s likely that the final truck will come soon after. Related video:

2022 GMC Hummer EV Edition 1 Prototype Drive Review | Let the supertruck wars begin

MILFORD, Mich. — Hummer is high on the list of vehicles we never thought would return. The gas-guzzling brutes met their demise more than a decade ago as the industry pivoted briefly to smaller cars and General Motors shed brands during its historic restructuring. Fast-forward to 2022, and HummerÂ’s revival is at hand thanks to yet another industry shift, this time to electric propulsion. ItÂ’s expensive, itÂ’s still huge and the numbers are eye-popping to the tune of 1,000 horsepower. America loves a comeback — but it loves trucks more. We briefly tested the 2022 GMC Hummer EV Edition 1 truck at the GM Proving Grounds 40 miles northwest of Detroit. Weeks from now, Hummers will start rolling off the line at GMÂ’s EV site, dubbed Factory Zero, in the Motor City. While the Hummer SUV will undoubtedly prove its worth, GM is leading with the pickup, ambitiously calling it a supertruck and eagerly touting its metrics and mojo-generating features, like CrabWalk, against the Rivian R1T, Ford F-150 Lightning, Tesla Cybertruck, as well as gas-powered off-roaders like the Ford F-150 Raptor and Ram 1500 TRX, plus various Jeep and Land Rover SUVs. (Here's our latest supertruck spec comparo). All of them have impressed us (save the Cybertruck, which only Jay Leno and a few others have driven), but the Hummer is formidable in its own right. For one thing, itÂ’s a Hummer. The negative connotations of the old Hummers melt away when thereÂ’s a 24-module Ultium battery pack powering three motors for a range of 350-plus miles on a single charge. The old model was divisive, but a lot of people paid a lot of money for them simply because they looked very cool. HummerÂ’s familiar grille makes it bold return on our tester that looms high on its 35-inch Goodyear Wrangler Territory MT tires. It certainly looks the part of a supertruck. The cabin is roomy and airy, with the removable sky panels letting in the bright fall morning. Hummer EV chief engineer Al Oppenheiser is our co-pilot for our test, and after a quick walk-through, weÂ’re off.  The first order of business is simply mashing the throttle. The Edition 1 serves up about 1,200 pound-feet of torque, and you can make use of all of that and the four-figure horsepower to hit 60 mph in about 3 seconds. We accelerate hard, blasting over some soft ground before things get a little squirrelly and can confirm the claimed time feels legit.