General Motors finally officially sell the Hummer to Sichuan Tengzhong Heavy Industrial Machinery, which would Tengzhong controlled 80% of shares and the remaining public dikusai. With its official sale, the fate of the Hummer brand is better than other GM brands such as Pontiac is to sink. These sales provide fresh funds for GM of $ 150 million, although the deal still requires approval from their respective governments, the estimated end of the year or early next year.
Tenzhong is a producer of commercial trucks and industrial equipment. Companies experiences do not have private vehicles on the market. But according to Yang Yi, the CEO Tengzhong, confident their investment in the Hummer will help speed the creation process, especially the next generation of cars fuel efficient to meet future regulatory demands, but also consumers. Through this sale, entitled Tengzhong Hummer name and the right to produce this vehicle. They also maintain that the agreement related to the Hummer dealers.
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