GM branches: HUMMER purchased by China's Sichuan Tengzhong; Koenigsegg interested in SAAB; 16 buyers interested in Saturn; Holden safe from bankruptcy

It just been days, that General Motor announced that it's entering Chapter 11 bankruptcy protection filing, which should clear off into a "New GM", that should be into the new business within 90 days. Well, GM immediately headed off for new changes. It was earlier reports that GM will focus on less brands and less cars, to produce better quality and better service.

Well first up, Hummer. It was reported earlier that two Arab investors were interested in buying Hummer's stake. However, it was announced today GM and China's Sichuan Tengzhong for Heavy Industrial Machinery reached a deal into the purchase of Hummer. That right, Hummer is now fully-owned by a Chinese company! GM said that Tengzhong is a "privately-owned company and a leading domestic manufacturer of road, construction and energy industry equipment." On Tengzhong side, they announced that Hummer will still be manufactured in the U.S, which will secure more than 3,000 American jobs in factories and management. Tengzhong plans to produce more Hummer fuel-efficient trucks, and spread Hummer dealers worldwide. - [The New York Times]

In other GM brands, there's Saab. Saab was once asking their originated Swedish government to take loans for their independence from GM. However, GM is still considering any profitable bids from other companies to sell it to. Well, it was also once reported that China's Geely automaker is in fact interested to buy stake in Saab. Joining Geely, a report from the Swedish financial daily newspaper, Dagens Industri, Sweden's own supercar builder Koenigsegg, is now one of the parties interested in buying General Motors' Saab brand. GM announced that Saab's new owner should be decided by end of June. - [Reuters]

GM is also considering on selling Saturn. Saturn is the GM brand that ships Opel vehicles to the states. Well, now after GM have sold Opel to Canadian auto part Magna, Saturn is in a deep downfall. Nevertheless, 16 companies (GM weren't allowed to announce who they are) are bidding for the purchase of Saturn from GM. The sale of Saturn should help GM repay some of its debts. - [Detroit Free Press]

Finally, there's General Motor's Australian branch, Holden. Holden is responsible for such great cars like the Holden Commodore (Pontiac G8 in U.S. and Chevrolet Lumina in the Middle East), and the all-new 2010 Chevrolet Camaro that shares platform with the Commodore. It was stated today that GM intends to keep its relationship with Holden, and that it's safe from any bankruptcy terms. "We don't anticipate GM's bankruptcy will have any direct impact on Holden's workforce, dealers, or suppliers," said Holden Chairman and Managing Director, Mark Reuss. GM also announced that Holden will be a big part of the 'New GM' after the bankruptcy Chapter 11 filing. - [Stuff.Co.Nz]

Potential Buyers : Renault is interested in Saturn, Geely in Saab, Arab inverstors in Hummer, and Pontic not for sale !

With General Motor's new viability plan, which states the death of Pontiac, and "the resolution" of Saturn, Saab, and Hummer, companies and investors have come to GM to ask for the purchase of these companies.

To start with, Wall Street Journal reports that General Motors’ talks with selling Saturn to Renault SA, giving the French automaker a “launching pad for growth in North America.” Just like Chrysler is being saved by Italian Fiat, there is now a high chance that Saturn will be saved by French brand Renault. - [WSJ]

Saab, which GM is also looking to sell got a bid from Chinese Geely, which just few weeks ago made a bid for Volvo as well. It might be that Geely pressures Ford with that new bid to sell Volvo. Who knows maybe Geely will end up owning both Swedish automakers. Just like Indain Tata now owns both British Jaguar and Land Rover. - [WSJ]

As for Arabs, they want gas-guzzling off-roaders. According to GM's Middle East Managing Director, Terry Johnsson, a pair of Arab investors are interested in Hummer. Reports that Hummer is worth from $100 - $200 million. Hummer's new owner should be announced by GM within a few weeks. - [The Associated Press]

Lastly, Pontiac. The "phase-out" of Pontiac was a surprise to us all, and many still couldn't move on. Specially that many Pontiac dealers might get broke by it, one local Pontiac dealer owner, Jim Waldron, said he and other investors had offered GM money to buy the Pontiac brand and numerous plants from them. They would hire their own workforce and try to restart the rather strong brand. However, GM have turned them down by saying "Pontiac is not for sale at the moment." So does it mean that GM has plans someday to bring back Pontiac? Well, we have to optimistic. - [WJRT]

Report : GM unable to find buyers for Saab and Hummer

According to trusted sources, General Motors is unable to find buyers for Saab. GM put Saab under strategic review last month as a part of its recovery plan submitted to Congress. Fritz Henderson, GM’s vice chairman and chief operating officer, previously said that GM is looking to sell Saab as soon as possible.

Apart from the $13.4 billion in loans that GM received from President George W. Bush last month, the Swedish government has approved a $3.4 billion package for its struggling auto industry. Saab and Volvo are expected to get the biggest chunk of the loan.

The same sources say that GM is also unable to find a buyer for Hummer which was out under “strategic review” in June. So Hummer doesn't have any support from either GM or the American government.

Source: [ Automotive News]

Drawing Of The Week : Hummer H1

So yes , it's a boring weekend . And have nothing to do on a Friday night ? Well , to make it less miserable , Motor Gears will be featuring every week a car-drawing by our Drawing - Chief : Mohammad Al-Khatib . And don't worry , he's a big petrol-head himself .

In these days , he got fed-up with hybrids and electric cars . So , he wanted to draw something big . something isn't friendly at all . He drew a Hummer H1 . The car that trees try to run away when they see it . And the end result of drawing it , is fantastic .You can see all the little details and even the tyre markers . Good job Mohammad !

But because I have no idea about drawing , I thought it took him about 10 minutes . Then he explained about how the car needed sketching first , and the whole processes of drawing and ofcourse , coloring . In total , this car took him nearly 6 hours to draw . So yes , drawing takes alot of time .

I would like to apologize for the low-quality picture , but that's all what we could do for now . Next week will be featuring another amazing drawing , in high-quality. Hope you get excited this weekend .