General Motors Co. today says it is winding down its Hummer division after a deal fell through to sell the luxury SUV brand to China-based Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd. Reports indicate Sichuan Tengzhong was unable to secure required approval from Chinese regulators to purchase the brand. According to Bloomberg, the acquisition was rejected because the Chinese government wants to promote small cars powered by small-displacement engines. “It’s only normal for the ...
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