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Hummer Brand Sold to Chinese Firm in Major Deal
GM and Sichuan Tengzhong sign a deal to transfer 80 percent of Hummer to the Chinese heavy equipment maker with Luolang Duoji holding 20 percent. The plan includes Hummer’s dealer network and a target price around 150 million dollars, pending US and Chinese government approvals. James Taylor remains CEO as the new company forms in Detroit or Auburn Hills.
MENTIONED IN THIS ARTICLE
Detroit
America
General Motors Co
Sichuan
Tengzhong Heavy Industrial Machinery Corp
Tengzhong
Hong Kong
Luolang Duoji
Hummer
Lumena Resources Corp
GM and Tengzhong
U.S
Auburn Hills
Mich
James Taylor
Taylor
Associated Press