General Motors just announced that Chinese company Sichuan Tengzhong Heavy Industrial Machines Co., Ltd. (Tengzhong) was unable to complete the acquisition of Hummer. The Detroit automaker said that it 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 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 said that it will continue to honor Hummer warranties, while providing service support and spare parts to current Hummer owners.
– By: Omar Rana