GM, Sichuan Tengzhong make a deal on Hummer

The companies said in a statement that the current management team, including the chief executive, James Taylor, would remain. About 3,000 sales, manufacturing and corporate jobs will be preserved by the deal.

Mr. Taylor said in a statement that the new owners planned to offer alternative-fuel engines in Hummer's three models, as well as a diesel version to be sold outside North America.

A representative of the Sichuan Tengzhong said Friday that they were “evaluating locations in southeast Michigan for our US headquarters and various locations in the US for a long-term manufacturing base.”

The Hummer deal is considered an important expansion for the Chinese auto industry outside of its home market.