“We are fortunate to have a partner who understands and recognises the importance of continuing investment in Hummer’s heritage as a US-based and branded company with a view toward capitalizing on global opportunities,” said Hummer CEO James Taylor, who will remain in his position with the Chinese ownership.Tengzhong will purchase Hummer through an investment entity, which will own an 80 per cent stake in the automaker. The remaining 20 per cent will be owned by Suolang Duoji, a private entrepreneur.
“Backed by a privately owned and well-capitalised company, we are going to be able to focus on providing customers with more efficient models that deliver Hummer’s promise of authentic, purpose-built design and engineering.”
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