Hummer Middle East Operations Unchanged
The US-based former bankrupt manufacturer today issued a statement saying that Hummer will continue its Middle East operations in the same manner as it did before the takeover.
Specifically, all warranties will continue to be backed and honored, while dealers will continue to sell and service Hummer vehicles in the Middle East. Additionally, spare parts will be readily available, the company said in a statement.
"The agreement lays out the terms and conditions for the sale of HUMMER, and clears the way for the next step of the sale process. While this is positive news, it does not yet signify that the sale is complete. The transaction is subject to customary closing conditions and regulatory approvals and/or review by government agencies in the U.S. and China," General Motors explained in the statement.
"Under the agreement, HUMMER will continue to contract vehicle manufacturing, key components and business services from GM for a transitional period. HUMMER will also continue to be managed by its existing leadership team, and dealer networks around the world will remain unchanged."
Hummer will be bought through an investment entity by Tengzong, who will own 80 percent of the company and Suolang Duoji, a private entrepreneur who will own the remaining stake. The value of the deal has not been disclosed.