As part of General Motors Co.’s restructuring plans following its brief stint in bankruptcy, the automaker promised to shed several of its brands to become a leaner, more focused company. This commitment has led to the sale of the Hummer brand to China’s Tengzhong Heavy Industrial Machinery Co. for $150 million.
The acquisition may not go completely smoothly for Tengzhong, as the Chinese government has expressed a certain amount of resentment over the deal that would place the gas-guzzling vehicles in Chinese hands. However, Tengzhong’s chairman is expected to announce the deal with GM from Detroit next week.
The deal will allow …read more

General Motors has been attempting to sell Hummer for at least the last few months. On Tuesday, they finally found a buyer who was willing to pay their price — in China. The Chinese company is known as Sichuan Tengzhong Heavy Industrial Machinery Co. and has ties to several industries including construction and plastic products.
The Chinese company has said that they will develop and research ways for Hummer to become more fuel efficient and better able to compete in the new automobile environment.
The good news for United States workers is that their jobs appear to be safe. General Motors said …read more