Hummer Brand to Be Sold in Days

Negotiations between General Motors and China's Sichuan Tengzhong Heavy Industrial Machinery continue and a final agreement is expected to be signed in a few days. The South China Morning Post wrote last weekend that representatives of the involved parties met in Detroit to sign the last papers and complete the transaction. However, the two companies are yet to issue an official statement, so an official conclusion is expected in the next few days.

According to some leaked terms of the deal, Tengzhong will become the owner of the intellectual property rights, including the trademark, patent right and other contents of Hummer. All of the sales network operated by Hummer will step under Chinese ownership, while maintenance, research and development will continue to run as normal.

General Motors will still handle Hummer vehicles production until 2012 and will continue providing technical services. Before the same year, 2012, Tengzhong will launch two new models, the H3 and H4.

"The Hummer brand is synonymous with adventure, freedom and exhilaration, and we plan to continue that heritage by investing in the business, allowing Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team," said Yang Yi, CEO of Tengzhong, back in June when General Motors officially confirmed that it entered talks with the Chinese carmaker for the sale of the Hummer brand.

"We will be investing in the Hummer brand and its research and development capabilities, which will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."