Hummer Deal Fails, GM to Eliminate the Company
By Chris Weiss
Hummer is officially on the brink of extinction. The pending deal with Sichuan Tengzhong Heavy Industrial Machines Co. is off and GM now plans to wind the company down. While we heard that very same phrase in the case of Saab, the Swedish automaker didn’t have the unfortunate distinction of making the least practical gas chuggers on the face of the planet during the midst of the green renaissance.
Earlier this week, Tengzhong was having problems with Chinese regulator approval and had plans to route the deal through an off-shore intermediary to skirt regulation. It looks like that didn’t pan out.
GM will still honor warranties for existing Hummer vehicles and plans to continue offering repairs and stocking parts. [via MotorAuthority]
