A Chinese company is to buy Hummer, the General Motors brand known for its military- inspired offroad vehicles and seen as a symbol of gas- guzzling, road-hogging American excess.
Hummer's sale to Sichuan Tengzhong Heavy Industrial Machinery Company will close this year, marking one of the biggest overseas acquisitions in carmaking by a Chinese group.
GM confirmed the sale yesterday but did not name the buyer. A person close to the company identified it as Sichuan Tengzhong, which makes road and construction engineering equipment and has a specialist commercial vehicles business.
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