general Motors agreed to sell its iconic brand for undisclosed sum.

The parties were negotiating the sale for many months. GM is in the process of sale and liquidation of many brands trying to reorganize its structure after declaring bankruptcy in July. Earlier this month concerned the automaker announced that it turns off brand Saturn. This happened after the "Penske Automotive Group refused to buy it. GM has already announced it was closing its production cars Pontiac. Also close to the European brands "Saab", "Opel" and "Vauxhall". GM Brands Continue to operate: # Chevrolet # GMC # Cadillac # Buick Ceased to function: # Pontiac (discontinued) # Saturn (discontinued) # Hammer (sold) # Saab (to be sold) # Opel (to be sold) # Vauxhall (to be sold) GM plans to update the structure, focusing on fewer brands after the bankruptcy, which became necessary after it during the crisis sharply reduced sales of automobiles. Next Generation In accordance with the terms of the agreement, Tengzhong acquire 80% stake of the company "Hammer", and the remaining 20% depart the Hong Kong entrepreneur Suolongu Duodzhi. Current management "Hammer" will continue to manage the company. The agreement still requires approval by regulatory authorities. Humvee - is a major global brand, and this agreement is a milestone in history as the "Hammer" and "general Motors" in general, "said GM Chairman Fritz Henderson. The company also reported that the focus on improving efficiency, including the introduction of diesel engines. "We are encouraged by some of the technology already embedded in the" Hammer ", so we believe that our investment will soon be justified, especially with regard to creating the next generation of fuel-efficient vehicles that will be required to meet the challenges of not only time but also the expectations of clients "said Yang Yi, director Tengzhong. Falling stars Hummers originally built as military vehicles terrain by AM General. Popularity brand soared, as U.S. motorists have powerful vehicles that were touted by such celebrities as Arnold Schwarzenegger and others. GM acquired the brand "Hammer" in 1999. Recently, sales have decreased considerably, since the car is consuming too much fuel, and military image became less popular. Humvees weigh up to five tons and spend about a gallon (~ 3.78 liters) of fuel at 15 miles (~ 25 km). Tengzhong specializes in the creation of equipment for road construction and energy industries. Company is located in the Chinese region of Sichuan.