GM: Hummer sold to China’s Sichuan Tengzhong

We reported yesterday that General Motors had sold its failing Hummer brand to a mystery buyer, well we can now tell you that GM have sold Hummer to China’s Sichuan Tengzhong. The company will now be offering one of these must have vehicles to the mega-rich, it seems that Sichuan Tengzhong do not care about how much gas the vehicles consumes.

The New York Times reports that Sichuan Tengzhong Heavy Industrial Machinery Company Ltd is a machinery company and is based in western China. The company will purchase the brand, and in the process save almost 3,000 jobs in the U.S., this includes manufacturing and dealerships. The deal looks set to be finalized by the end of the third quarter.

General Motors have also said that the new buyer will fund a number of future Hummer projects, showing that there is still life in this old military workhorse yet. The deal allows GM to keep building the vehicles on home soil, and are still working on the assemble of the H3 and H3T.

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