The Hummer Brand
On June 2, 2009, General Motors attempted a sale of its Hummer brand to a Chinese company, Tengzhong, as part of its bankruptcy settlement. GM stated at the time that it hoped the sale would save about 3,000 jobs in the US, after sales of the brand suffered despite its military image because of its low fuel economy.
On February 24, 2010, General Motors announced that the company was shutting down its Hummer brand due to Tengzhong withdrawing its bid. Tengzhong stated that the bid was withdrawn due to a failure to get approval from the Chinese government.
Read more about this topic: Hummer H1
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