General Motors (GM) has named the outfit that is to acquire its Hummer brand of vehicles, along with the division's senior management and operational team.
Sichuan Tengzhong Heavy Industrial Machinery (Tengzhong), a major industrial machinery group, will acquire the rights to the brand and assume existing dealership network agreements.
It is contemplated that Tengzhong will, as part of the transaction, enter into a long-term contract assembly and key component and material supply agreement with GM.
