Late last month we told you that GM was in talks with Tengzhong to finally sell off the dying HUMMER brand. Well, today, reports have surfaced that say the deal is officially going down for $150 million.
This wad of cash will net Tengzhong 80% of HUMMER whos vehicles will still be built by GM through June 2011. The other 20% will be going to a private investor which means GM will finally be able to wipe their hands clean of the brand.
What’s really interesting though is the fact that HUMMER, an iconic American brand, is now a Chinese company. What will come from this? Only time will tell.
via autobloggreen
http://www.carbuyersnotebook.com/chinese-leaving-hummer-plant-in-michigan/
Tags: brand, GM, HUMMER, Sale, tengzhong
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