AM Online

Hummer bought by Chinese manufacturer

Hummer has been bought by Chinese manufacturer Sichuan Tengzhong Heavy Industrial Equipment Co from owner General Motors.

The deal was signed on Friday. Financial terms were not disclosed, although reports suggest GM was paid $150m for the 4x4 brand.

GM's bankruptcy filing last summer had revealed that it hoped to get $500m or more for Hummer.

The deal keeps Hummer's management team in place, including recently appointed chief executive James Taylor.

 

If you are not a registered user your comment will go to AM for approval before publishing. To avoid this requirement please register or login.

Comment as guest


Login  /  Register

Comments

No comments have been made yet.