Oh the irony. AM General’s South Bend, Indiana assembly plant used to manufacture the epitome of gas-guzzling vehicles; the Hummer.
But now the company announces today that they are selling the plant to SF Motors, a subsidiary of China’s Sokon, in order to convert it to an electric vehicle manufacturing plant.
Both companies confirmed the transaction in a press release today. The deal is only for the commercial plant and not where the military Humvees are built:
“The transaction, which includes the acquisition of the land, plant, and certain auto manufacturing equipment exclusively associated with the CAP, does not impact AM General’s separate military assembly plant (“MAP”) or military-related business, which is AM General’s core business. The two plants have always operated independently, and following the close of the transaction, they will be totally separate and independent companies. Financial terms of the transaction were not disclosed.”
The plant also used to assemble …