De Tomaso has reportedly been sold to a subsidiary of China's Hotyork Investment Group.

De Tomaso has reportedly been sold to a subsidiary of China's Hotyork Investment Group.

Information is scarce, but Hotyork chairman Qiu Kunjian released a statement saying "We closely considered the business plan and we believe in the opportunity to develop all the valuable potential of the company. We are working to finalize the last details and implement the agreement in the coming of days."

As we have previously reported, De Tomaso was revived by former Fiat CEO Gianmario Rossignolo in 2009. The company had planned to launch three new models - a sedan, a crossover and a Pantera successor - but quickly ran into financial difficulties.

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