Hummer Goes To China

truck yellow

Hey! More US dollars held overseas are repatriating. We just had to give up one of the most (in)famous auto brands around.

This morning it was confirmed that GM had found a buyer for Hummer, and now the NYT confirms that it’s Sichuan Tengzhong, a machine and truck maker in Western China that wants to (for some reason) get into the auto game.

NYT: The Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., based in Chengdu, concluded the agreement with G.M., said the person, who insisted on anonymity.

Sichuan Tengzhong is a privately owned company, but Tuesday’s deal required preliminary vetting by Beijing officials, who retain the right to veto any attempt at an overseas acquisition by a Chinese company and who give special attention to deals over $100 million.

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