AM General LLC, which first gave birth to the first High Mobility Multipurpose Wheeled Vehicles (HUMVEE) for the U.S. Army in 1983 as well as the first began civilian model (HUMMER) in 1992, is reportedly in talks with Chinese-based automobile company, Hunan Changfeng Motor Co., to possibly partner on a joint acquisition of GM’s HUMMER division. Although Changfeng initially expressed interest in purchasing the line back in early 2008, a skittish economy and a reluctance to assume sole responsibility for such a massive undertaking ultimately caused Changfeng to withdraw all inquiries.
Today, however, news broke that Changfeng might have found a partner willing to assume 50% of the risk in the form of AM General. Explained Changfeng’s CEO Zhengchu Chen in an interview with a newspaper in Beijing, “We never quit talks on acquiring the brand…But now instead of doing it alone, we decide to form partnership with AM General to reduce risk as the global economy falters. We have to always adjust our plan to market conditions.”
Source: Gasgoo via AutoBlog