DETROIT -- General Motors Corp., the world's largest automaker, completed its acquisition of the Hummer brand name worldwide from closely held AM General Corp., maker of the military-style vehicle.
The acquisition was announced in June, and financial terms weren't disclosed.AM General will continue to make the vehicle at its plant in Mishawaka, Ind., and will keep the right to sell the military version of the Hummer.
GM will take over marketing and distributing the commercial version of the Hummer through its dealers next year. The Detroit-based automaker and South Bend, Indiana-based AM General plan to other product development opportunities within a few months.
AM General earlier this year agreed to buy from GM the rights and machinery to build 6.5-liter diesel engines for Hummers.
GM wants to stop making those engines as it works to improve efficiency under increased pressure from rivals.
General Motors shares fell 1 31/32 to 70 5/8 in New York.