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GMC Hummer EV hits Neiman Marcus Christmas catalog for twice the price

This winter season, Nieman Marcus is getting into the true meaning of Christmas by offering a bunch of seriously expensive stuff in its annual holiday catalog. There's usually at least one automotive offering, and this year it's a 2022 GMC Hummer EV Edition 1 for an eye-watering $285,000. That's $172,405 more than the regular Edition 1 crab-walker, which is priced by GMC at $112,595. And what does one get for more than 2.5 times the cost of the most expensive electric Hummer? Well, hold your 1,000 horses, because this isn't just any Hummer EV Edition 1. No, it's a one-off Barrett-Jackson Hummer EV Edition 1. The interior of this Barrett-Jackson edition Hummer has been "curated" by Craig Jackson himself. And by curated, they mean it has a bunch of red trim everywhere and is garnished with a Neiman Marcus logo. Aside from that, there is nothing appreciably different about it. No performance upgrades, no special paint job. You do get an electric charging station at home, though, which might be the most useful addition to this whole enterprise. If that's not worth the price of an entire 1.5 extra Hummers to you, there's more. You get two VIP passes for the opening gala of the Barrett-Jackson auctions in exotic Scottsdale, Ariz. During the auction, you'll get access for two to Carolyn and Craig Jackson's personal skybox from where you can watch 1,500 cars trade hands. But don't get too comfy, because at some point you'll be invited on stage to receive your Hummer EV in front of a gaggle of inebriated fishing boat dealership owners. Oh, and you'll also get to bang the little auction hammer. You can pair the Hummer with other gifts in Nieman Marcus' "fantasy" catalog, like a $6.1 million dollar diamond ring. However, if you go with the $395,000 Great Gatsby-style roaring '20s party, make sure it doesn't end with the 9,000-pound Hummer Daisy Buchanan-ing any bystanders. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.

Big electric trucks won't save the planet, says the NYT

When The New York Times decides that an issue is an issue, be prepared to read about it at length. Rarely will a week passes these days when the esteemed news organization doesn’t examine the realities, myths and alleged benefits and drawbacks of electric vehicles, and even The Atlantic joins in sometimes. That revolution, marked by changes in manufacturing, consumer habits and social “consciousness,” may in fact be upon us. Or it may not. Nonetheless, the newspaper appears committed to presenting to the public these pros and cons. In this recently published article titled, “Just How Good for the Planet Is That Big Electric Pickup Truck?”—wow, thatÂ’s a mouthful — the Times focuses on the “bigness” of the current and pending crop of EVs, and how that impacts or will impact the environment and road safety. This is not what news organizations these days are fond of calling “breaking news.” In October, we pointed to an essay in The Atlantic that covered pretty much the same ground, and focused on the Hummer as one particular villain, In the paper and online on Feb. 18, the Times' Elana Shao observes how “swapping a gas pickup truck for a similar electric one can produce significant emissions savings.” She goes on: “Take the Ford F-150 pickup truck compared with the electric F-150 Lightning. The electric versions are responsible for up to 50 percent less greenhouse gas emissions per mile.” But she right away flips the argument, noting the heavier electric pickup trucks “often require bigger batteries and more electricity to charge, so they end up being responsible for more emissions than other smaller EVs. Taking into consideration the life cycle emissions per mile, they end up just as polluting as some smaller gas-burning cars.” Certainly, itÂ’s been drummed into our heads that electric cars donÂ’t run on air and water but on electricity that costs money, and that the public will be dealing with “the shift toward electric SUVs, pickup trucks and crossover vehicles, with some analysts estimating that SUVs, pickup trucks and vans could make up 78 percent of vehicle sales by 2025." No-brainer alert: Big vehicles cost more to charge. And then thereÂ’s the safety question, which was cogently addressed in the Atlantic story. Here Shao reiterates data documenting the increased risks of injuries and deaths caused by larger, heavier vehicles.