General Motors is selling its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery. Tengzhong plans to invest heavily to create a manufacturing center for Hummer in China, and has extensive plans that may include more entry-level models. GM will contribute to management and manufacturing during a transitional period.
The Hummer deal comes just days after GM's sale of Saturn collapsed, forcing GM to announce the brand's closing. Hummer's sale, while not highly priced, allows the marque to continue operations.