General Motors Corp
Ray Young did not specify the estimated cash position for the restructured automaker, but forecast the new company was expected to be operating with a 'normal' range of cash by the end of the calendar year.
Young, in a conference call with analysts and media, added that $14 billion is considered a healthy global cash balance.
GM, which has been kept afloat with $19.4 billion in emergency U.S. government loans since the start of the year, filed for bankruptcy on Monday with a plan to split the company into New GM made of its best assets and Old GM that will be liquidated under court protection.
The new company, which will be 60 percent owned by the U.S. government, is expected to remain a private company at least until early 2010, Young said.
Young also said it has received interest from 16 parties for its Saturn brand and is in discussions with three parties regarding the sale of its Saab Swedish brand.
GM said earlier on Tuesday it reached a preliminary agreement to sell Hummer to an undisclosed buyer.
(Reporting by Soyoung Kim and Poornima Gupta; Editing by Derek Caney)