LITTLE-KNOWN Chinese industrial machinery company Sichuan Tengzhong has emerged as GM’s approved buyer for the Hummer brand. Although Hummer will be divorced from General Motors once the deal is finalised later this year, Tengzhong is adamant that much of Hummer’s current business structure will remain unchanged.

There will be no corporate reshuffle, nor will Hummer’s headquarters [...]

• 
• Comment
• Read More

GENERAL MOTORS announced today that it has secured a buyer for its struggling Hummer brand, with the sale of the marque is expected to be completed sometime in the third quarter of this year.

The buyer is unknown at the moment, and the terms of the memorandum of understanding between it and GM prevents its identity [...]

• 
• Comment
• Read More

After earlier reports of a sale proved to be untrue, rumours circulated that Honda’s Formula One team was being eyed off by David Richards of Prodrive, Greek shipping tycoon Achilleas Kallakis and Force India boss Vijay Mallya.

However, Honda has officially announced that it’s F1 team has finally been sold, and the buyer is… none of [...]

• 
• Comment
• Read More