Who is Tengzhong?

Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. (Tengzhong) and General Motors Corp. (GM), today confirmed details of their proposed transaction, pursuant to which, Tengzhong, a major Chinese industrial machinery group, will acquire the rights to the premium off-road HUMMER brand, along with a senior management and operational team. It will also assume existing dealer agreements relating to HUMMER’s dealership network. It is contemplated that Tengzhong will, as part of the transaction, enter into a long-term contract assembly and key component and material supply agreement with GM. In an earlier statement, GM said it expects the deal if successful to secure more than 3,000 U.S. jobs. The final terms of the deal are subject to final negotiations.

Based in the Chinese province of Sichuan, Tengzhong is a privately owned company, and a leading domestic manufacturer of road, construction and energy industry equipment. It will expand into the premium off-road vehicle segment through what will be a strategic acquisition for Tengzhong and a catalyst for HUMMER’s growth in the U.S. and around the world. HUMMER will continue to maintain its headquarters and operations in the U.S., and will continue to be managed by its existing leadership team. The team intends to expand HUMMER’s dealer network worldwide, particularly into new and underserved markets such as China.
Yang Yi - Chief Executive Officer

Who is Tengzhong?
Tengzhong is a major Chinese industrial machinery group and is a leading domestic manufacturer of road, construction and energy industry equipment. An expansion into the off-road vehicle segment is an extension of its business portfolio and a strategic acquisition for the company, which it has been considering for some time. Tengzhong is a privately owned company.

What will you be doing to increase HUMMER's fuel efficiency?
Tengzhong expects to invest in the development of new HUMMER products, including next generation models. The R&D team at HUMMER already has invested in years of research. Tengzhong is well aware of new fuel efficiency requirements that are being discussed globally and believes that the HUMMER team is well prepared to meet these requirements.