General Motors stated today that a deal to sell the Hummer brand to China has fallen apart. Allegedly, the Chinese government refused to grant permission to the prospective buyer, Sichuan Tengzhong Heavy Industrial Machinery Co.
China’s Commerce Minister, however, stated that they never received an application from Tengzhong, according the MarketWatch.
The struggling auto giant had hoped to sell the Hummer division as part of its bankruptcy turnaround.
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