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Wednesday
Oct142009

China Buys Hummer

DateWednesday, October 14, 2009

jim taylor yang yi hummer 467x311 Chinese Company Buys Hummer from GM

General Motors has reached an agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery, the company announced Friday.

The price was not disclosed, but industry analysts had estimated that the Hummer division would sell for $150 million.

The deal would make Tengzhong the first Chinese company to sell vehicles in North America, though Hummer’s operations would remain in the United States.

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