Just days before General Motors heads to Washington, D.C. to present its updated restructuring plan to the U.S. Department of Treasury, ‘sources’ have reported that the automaker is talks with two potential buyers of the Hummer brand.
Insiders familiar with the matter say that the two buyers include a private-equity firm and a Chinese company. No names were released. According to Automotive News, the General is looking for close to $500 million for Hummer another sources said.
As far as Saab goes, insiders say that GM is looking for funding from the Swedish government to fix the brand. Bloomberg has reported that GM is looking to secure at least $600 million in European Investment Bank loans.
Sources said that GM has already committed $400 million to launch Saab’s 9-5 sedan and 9-4 crossover later this year. GM is hoping to get Swedish funds along with its $400 million to keep Saab running for an eventual sale.