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Hummer sale to Tengzhong cannot be completed
General Motors has announced that Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. (Tengzhong) was unable to complete the acquisition of Hummer. As a result, GM will begin the orderly wind-down of the Hummer operations.
“One year ago, General Motors announced that we were going to divest Hummer, as part of focusing our efforts on Chevrolet, Buick, GMC and Cadillac going forward. We have since considered a number of possibilities for Hummer along the way, and we are disappointed that the deal with Tengzhong could not be completed," said John Smith, GM's vice president of corporate planning and alliances. "GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner."
GM will continue to honor Hummer warranties, while providing service support and spare parts to current Hummer owners around the world.
Takata dedicates US$14.6 million crash test facility
Volkswagen Group completes acquisition of Italdesign Giugiaro
Pininfarina to open Product Development Center in Shanghai
Mahindra & Mahindra signs MoU with Ssangyong
Hand-held vibration analyzer launched
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