GM's Hummer brand may be sold to Chinese company

GM has reached a tentative agreement with Sichuan Tengzhong Heavy Industrial Machinery Co. Terms of the deal, which could save 3,000 jobs, are not disclosed.

By Jerry Hirsch and Ken Bensinger
June 3, 2009

Jerry Hirsch Reporting From Los Angeles Reporting From New York -- A Chinese heavy-equipment maker's move to acquire General Motors Corp.'s Hummer brand has its executives and dealers excited about the possibility of overseas sales growth and more fuel-efficient models.

A day after filing for bankruptcy protection, GM said Tuesday that it had reached a preliminary agreement to sell the sport utility vehicle brand to Sichuan Tengzhong Heavy Industrial Machinery Co. Terms weren't disclosed.