Sichuan Tengzhong picks up Hummer from GM

Sichuan Province-based Chinese engineering company Tengzhong Heavy Industrial Machinery is acquiring Hummer from troubled General Motors for an undisclosed amount.

Tengzhong will acquire the rights to the Hummer brand, along with a senior management and operational team. It will also assume existing dealer agreements relating to Hummer's dealership network and is expected to sign a long-term contract assembly and component and material supply agreement with GM.