Hummer sold to Chinese company
Hummer sold to Chinese company
DETROIT (AP) — General Motors Co. says it has signed an agreement to sell control of its iconic Hummer brand to a Chinese heavy equipment maker.
The company says that Sichuan Tengzhong Heavy Industrial Machinery Co. will acquire 80 percent of the Hummer brand, trademarks and trade names plus intellectual property rights needed to build Hummer vehicles.
The remaining 20 percent will go to Suolang Duoji, a private entrepreneur.
Financial terms were not disclosed.
The investors also will get Hummer's nationwide dealer network.
©2009 Associated Press. All rights reserved.
The company says that Sichuan Tengzhong Heavy Industrial Machinery Co. will acquire 80 percent of the Hummer brand, trademarks and trade names plus intellectual property rights needed to build Hummer vehicles.
The remaining 20 percent will go to Suolang Duoji, a private entrepreneur.
Financial terms were not disclosed.
The investors also will get Hummer's nationwide dealer network.
©2009 Associated Press. All rights reserved.
The vehicle made famous in Operation Desert Storm, the AM General Hummer is now officially joining the products "Made In China".
Thoughts?
I don't know. Something just doesn't seem right when the military is going to be purchasing military vehicles from China. Not to pick on China, but I kinda like the idea of making your own military vehicles. That way there's less chance of an enemy knowing the weaknesses of your equipment.
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