General Motors could sell its iconic Hummer brand to a Chinese heavy equipment manufacturer as early as Thursday afternoon. Representatives of Sichuan Tengzhong Heavy Industrial Machinery Corporation have been in the US for the past nine days finalizing the deal with GM.

Sichuan Tengzhong reached a tentative agreement with GM to buy the brand in June. The Chengdu-based company plans to invest 9.4 million dollars over five years.

Tengzhong's CEO Yang Yi said if the sale goes ahead the company will keep Hummer's headquarters and operations in the US. He also outlined plans to invest in research and development of more fuel-efficient vehicles.