Zoomi Life

GM has announced that despite the pending sale of the Saturn brand, the 2-mode hybrid Saturn Vue that was to be released this summer will live. While it won’t be released this summer as planned, it will be released in 2011 along with it’s plug-in hybrid counterpart. The question is “under what brand?”

Read More: Saturn Vue 2-Mode Hybrid and PHEV Won’t Die, According to GM

Both General Motors and Chrysler have been told by the Obama administration’s automotive task force that they should prepare for bankruptcy. The U.S. Treasury has announced that they’re prepping plans to put Chrysler into Chapter 11 for a fast reorganization, which could happen before the month is out.

GM has already announced that Pontiac will be gone by 2011 and will be unloading Saab, Saturn, and Hummer before the end of the year. In all, there are 13 total GM brands hitting the bricks over the next 2 years. This is according to GM’s latest “viability plan” submitted to the government.

The Saturn brand is one of those likely to be sold off entirely, though the company has said that they are willing to continue production of Saturn vehicles as a contract assmebly deal. This would make a buyout of Saturn by Saturn dealerships viable–one of the known offers on the table right now.

Read More: GM and Chrysler Likely Facing Bankruptcy - GM Drops Pontiac and Saturn Brands

One of the troubled assets that General Motors has to liquidate to make the Obama Administration happy is the Saturn brand. The sub-company is a consistent money-loser for GM, despite its popularity. A group made up of current Saturn dealers and an Oklahoma City private equity firm are offering to buy the brand.

The group is led by Black Oak Partners, but is not the only group to come forward with an offer, according to GM. The automaker refuses to disclose whether any of the offers are being considered right now, though it’s likely they’re negotiating for the sale, given the circumstances.

Read More: Investment Group Wants to Buy GM’s Saturn

“How’s the homework going, Junior?”

“Not bad, dad. I just finished putting the lithium-ion battery pack into the project car. I sure hope I pass my driver’s test next week so I can take it out for a test run.”

“Sure, son, I wouldn’t worry abou…wait a minute! Battery pack? Test drive?”

Read More: High School Homework: Convert Saturn SP1 to Electric Car