Chinese Company Buying G.M.’s Hummer Brand

General Motors has reached a preliminary agreement for the sale of its Hummer brand of large sport utility vehicles and pickup trucks to a machinery company in western China with ambitions to become a carmaker.

The buyer is the Sichuan Tengzhong Heavy Industrial Machinery Company, based in Chengdu, G.M. said Tuesday. The price was not disclosed, but industry analysts had estimated that the Hummer division would sell for less than $500 million. More Here

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