General Motors will sell its Hummer division to Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd., the companies have confirmed.
The deal will give Tengzhong the brand, trademark and
trade names, and specific IP license rights for making the vehicles. The Chinese company will also assume dealership agreements.
Under terms of the deal, GM will make the vehicles and
components and continue to run business during a transitional period.--Karl Greenberg