According to a Reuter's report, General Motors (NYSE: GM) is finding "significant interest" in the assets it is trying to sell to raise capital. The biggest asset on the trading block so far is Hummer, the militaristic luxury SUV line that is variously loved and loathed in different corners of the country.

Whatever your feelings toward Hummer, $4 a gallon gas has made it far less attractive to American consumers. And having lost over $50 billion in the last three years -- that's right, $50 BILLION -- GM sure could use the cash it would get from its sale.

At a plant opening in Thailand, GM confirmed that it has been in negotiations with India's Mahindra & Mahindra Ltd. to sell the Hummer division. Automakers in China and Russia are also reportedly interested.

Mahindra is a large and growing company, one that you'll hear lot about in the near future. It's a $150 billion conglomerate that already sells tractors in the U.S., and starting next year it plans to sell a diesel pickup truck here as well. Mahindra got its start making Willys Jeeps in India after World War Two, and now controls most of the utility vehicle market there. Hummer could make sense as a luxury badge for the company, one that it could sell to oligarchs and new capitalist kings throughout Russia, China and the Middle East. The Hummer's days in the U.S. may be limited, but it may have a future in the more turbulent emerging markets where military looks make more sense and where poor gas mileage is less of a problem.