General Motors says it will proceed with the shutdown of the HUMMER brand, but TheCarConnection has confirmed that an American company has twice expressed interest in a HUMMER deal--both before and after a failed bid from a Chinese company.


Quote from the article:

Raser Technologies is a Utah-based engineering firm that has produced electric-conversion 2009 HUMMER H3 prototypes. According to sources, Raser made an offer for HUMMER but was denied in favor of the eventual bid by Chinese truckmaker Sichuan Tengzhong--a bid that eventually failed due to lack of financing and possibly, pressure from the Chinese government. The same sources indicate Raser bid again in a second round after Tengzhong's offer fell apart. Raser is said to have met nearly all the conditions for a HUMMER acquisition that were laid out for potential bidders. While a final offer price has not been confirmed, the Tengzhong bid topped $150 million, and any subsequent offer would likely have been worth far less. After a potential takeover of the brand from GM, Raser's plan would have been to turn HUMMER into a "green" brand. According to the company's Web site, Raser's main focus is on geothermal energy, but the company has also developed its own extended-range plug-in hybrid technology that could be beneficial--or a direct competitor--to General Motors' own patents for "E-REV" hybrids like the upcoming Chevrolet Volt.

HUMMER Still Has American Bidder Interested

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