GM talks with Mahindra

By Jui Chakravorty Das

NEW YORK (Reuters) - General Motors (GM.N) is in talks with Indian automaker Mahindra & Mahindra (MAHM.BO) and automakers in Russia and China about selling its Hummer brand, sources familiar with the matter said.

One source close to the discussions said Mahindra is not very interested at this time, as it has plans to launch its own trucks and sport utility vehicles in the U.S. market.

Mahindra would like to launch those vehicles under its own brand and has signed up more than 300 dealers to distribute a pickup truck next year. But talks with GM -- still in initial stages -- are continuing, the source said Thursday.

GM declined comment. Mahindra was not immediately reachable for comment.

The sources did not name the Russian and Chinese companies talking with GM.

GM, which has said it will try to raise up to $4 billion (2 billion pounds) through asset sales, has hired consultants and investment bankers to review the Chinese market for potential buyers for GM assets, one of the sources said.

The struggling U.S. automaker, which has lost more than $51 billion over the past three years, said in June it was reviewing its Hummer brand, which has hurt GM's image at a time when consumers are demanding more fuel efficiency.

Amid high gasoline prices, interest in buying a brand that gets only nine to 15 miles a gallon has been thin and continues to shrink, one source said.