General Motors Corp. has sold its Hummer truck unit to Sichuan Tengzhong Heavy Industrial Machinery Company Ltd. in China, according to CNNMoney.com.
The news comes a day after GM filed for bankruptcy.
Some GM plants will continue to build the Hummer brand for the new owner, at least for awhile. The company said its Shreveport, La., plant will keep building Hummers for the new owner until
at least 2010.
The deal is scheduled to be finalized by Septemnber
"I'm confident that Hummer will thrive globally under its new ownership," said Troy Clarke, president of GM North America, in a press release. "And for GM, this sale continues to accelerate the reinvention of GM into a leaner, more focused, and more cost-competitive automaker."
GM also said the deal should protect more than 3,000 jobs in manufacturing and engineering, and at dealerships "around the country."
GM said it sold 5,013 Hummers worldwide in the first quarter, down 62 percent from the 13,050 it sold in the same period the prior year.
