SICHUAN PROVINCE, China -- Reports from China indicate that GM’s deal to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. is meeting resistance from China’s Commerce Ministry. The Chinese firm produces large industrial vehicles, and also has connections to the mining industry in that country. There were no other details about potential government resistance.
In announcing the deal, Sichuan Tengzhong said the company will keep Hummer's headquarters and operations in the U.S., while investing in research and development of more fuel-efficient vehicles. (
Courtesy of Tire Review)
