DETROIT — General Motors Co. has completed a deal to sell the Hummer SUV brand to China's Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd.
The companies did not disclose financial terms of the deal. News reports had said Sichuan Tengzhong would pay $150 million for the U.S. brand.
Tengzhong will buy the brand, its trademarks and licensing rights to make vehicles and will assume Hummer's dealership agreements. The Chinese company will get manufacturing, some components and business services from GM during a transitional period, which was not defined.