GM sells Hummer to Chinese company.

[Blue-Jay]

http://www.google.com/hostednews/ap/article/ALeqM5hxBLFM698UymevsqyqKahv6kb-VgD9B7PR2G3

DETROIT — Hummer, the off-road vehicle that once epitomized America's love for hulking trucks, is now in the hands of a Chinese heavy equipment maker.

General Motors Co. and Sichuan Tengzhong Heavy Industrial Machinery Corp. finally signed the much-anticipated deal for GM to sell the brand on Friday.

Tengzhong will get an 80 percent stake in the company, while Hong Kong investor Suolang Duoji, who indirectly owns a big stake in Tengzhong through an investment company, will get 20 percent. The investors will also get Hummer's nationwide dealer network.

Financial terms were not disclosed, although a person briefed on the deal said the sale price was around $150 million. The person did not want to be identified because the terms were being kept private. GM's bankruptcy filing last summer said that the brand with military roots could bring in $500 million or more.

(more at link)

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Nobel Prize.

[Xipe Totec]

1. I haven't seen a hummer on the road in over a year n/t

[blondeatlast]

10. Plenty of shiny Hummers in my neck of the desert.

Never a scratch on them, either. I just giggle at the drivers.

[FreakinDJ]

2. Hopefully they included Arnold in the deal

Hope you like rice Arnoold

[Cirque du So-What]

3. Even more justification for giving Hummer drivers the finger

As if they weren't hideous enough already, now they'll have Chinese quality built into them. Sorry about the tiny penis.

[RKP5637]

8. LOL

:)

[AllentownJake]

4. Well, at least we know we are getting some money from China

I don't know why anyone would want to own that POS brand during peak oil

[bluestateguy]

5. I've seen a diminishing number of Hummers on the road in the last 2 years

The 1-2 punch of $4 a gallon gas, followed by the economy's crash will do that.

[The_Casual_Observer]

6. Now nobody at all will buy those pieces of shit. Good for them.

[sandnsea]

7. That is just funny as hell

Unfortunately the couple of dumbass Hummer owners I know are now broke so it would be way too mean to laugh at them for supporting policies that not only bankrupted them, but also made it impossible for this country to sustain Saturns let alone their precious Hummers. On second though, nah, that wouldn't be too mean at all. Dumbasses.

[madrchsod]

9. interesting--china already makes a rip -off version of the hummer