General Motors Company, which is working hard to cut its U.S. brand count in half, is trying to complete a deal to sell Hummer to Sichuan Tengzhong Heavy Industrial Machinery. According to a report by Bloomberg, the deal is said to be priced at $150 million.
Three unnamed sources said that GM hopes to announce a deal later today or tomorrow. In June, GM said it is expected to sell Hummer to the Chinese heavy machinery maker, which has no experience with the automotive industry.
Hummer declined to comment but a source said that details on the sale could be announced “any day.”
– By: Omar Rana