General Motors Corp. (GMGMQ.PK), now known as Motors Liquidation Co. (MTLQQ.PK), is nearing an agreement to sell its Hummer sport-utility vehicle business to China's Sichuan Tengzhong Heavy Industrial Machinery Co. for about $150 million, media reports on Thursday citing to people familiar with the deal.
The parties are trying to reach a deal October 9, said the people. GM estimated the brand's value at $500 million in bankruptcy court documents.
The sale requires the acceptance of regulators in the U.S. and China. Sichuan Tengzhong intends to apply for Chinese approval once a binding agreement with Detroit-based GM is made, the people said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.