Tuesday, October 13, 2009

Today's Fly Or Die Commerce Report

Last week, General Motors agreed to sell its Hummer Trucks division to Sichuan Tengzhong Heavy Industrial Machinery Company, a Chinese car manufacturer. The $150 million deal is reportedly the first time that a Chinese company has brought into the American car industry on a major level.

General motors will continue to manufacture Hummers until 2012- at the latest. After that the brand will be manufactured and marketed by its new owners.

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