You may already be familiar with what will likely be the first Chinese car on sale in the U.S., a Hummer.

Sichuan Tengzhong Heavy Industrial Machinery Company (Tengzhong) is in advanced talks with GM to purchase Hummer. Tengzhong is expected to enter into a long-term contract assembly and supply agreement with GM, pending government approvals on both sides, in the third quarter this year.

The New York Times cites industry analysts who estimate the purchase would be for less than $500 million. Established in 2005, privately owned Tengzhong manufactures construction and specialty trucks in China. It has expanded through acquisitions, and the Hummer brand would give it access to the U.S. and a consumer product for sale worldwide.

The deal promises to preserve more than 3,000 jobs, as the intention is for Hummer to continue to be run from America. GM expects a commitment to keep the Shreveport, La., plant building H3s and H3Ts through 2010, with the possibility to extend. Production in South Africa would be consolidated to the Shreveport plant.

As part of its downsizing and restructuring, General Motors decided to sell off the iconic brand of civilian SUVs modeled after the U.S. military HMMWVs built by AM General. The first “Humvee” was built in 1985, and made famous with its televised role in Operation Desert Storm, where 20,000 examples served. The first civilian H1 was first produced in 1992.

—Eric Evarts and Jeff Bartlett