General Motors interested in buying AM General
AM General, the Indiana-based manufacturer of the US Army’s High Mobility Multipurpose Wheeled Vehicle (HMMWV, Humvee) and a major military vehicle producer, is looking for a new owner. General Motors and Fiat Chrysler Automobiles appear interested, an information that needs to be confirmed, as reported by Reuters.
AM General's legendary Humvee (Picture source: DVIDS)
AM General’s value is set at $2 billion, if not more. In September, the company was awarded a contract by the U.S. Army to supply 2,800 new M997A3 Humvee ambulances, a deal which is believed to be worth around $800 million. In 2018, as a part of a larger Foreign Military Sales agreement, AM General received a $550-million contract for delivering HMMWVs in different variants (protected weapons carriers, cargo transporters, and ambulances) to Afghanistan, Iraq, Ukraine, Jordan, Slovenia, Bahrain, Columbia, Bosnia, and Kenya.
In 1998, General Motors purchased the Hummer brand from AM General to market three generations of military-based civilian SUVs in the next years: the original H1, based on the Humvee, and the H2 and H3, both underpinned by civilian-market GM architectures.