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The Chinese plan to increase the brand's international presence

DailyTech reported yesterday on GM's announcement that it had found a buyer for the Hummer brand of heavy utility vehicles.  The mystery buyer promised to take on the brand and help expand its international presence.  In the process it saved a number of jobs at Hummer plants and helped GM complete a major step toward moving out of bankruptcy.

Now the identity of the mystery buyer has been revealed.  Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., a Chinese industrial firm, will be purchasing the brand and attempting to revive it.

States Yang Yi, chief executive of Tengzhong, "We plan to ... allow Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team."

He did, however, hint at changes stating that the deal "will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."

The companies hope to have the deal finalized by September.  The deal does not concern the military Hummer technology owned by defense contractor AM General, which licensed the brand name to GM for civilian vehicle purposes.  AM General will now, in turn, license the name to Sichuan Tengzhong, which will continue the civilian Hummer development.



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RE: Sad.
By mdogs444 on 6/3/2009 12:39:31 PM , Rating: 2
quote:
ou can't be serious? Repeal 100 years of labor laws???

No, but we should repeal affirmative action. It has its time and purpose during the civil rights period. Now int he present day it serves as nothing but reverse discrimination - just look at the Sotomayor verdict on the fireman. Many people took the same test, physical and written, for the fire department...several whites and hispanics passed. No blacks passed. That means no one can get promoted. Yeah thats great - nothing I want more than the person I'm paying to save my life to be a bottom tier worker who only got the job because of his race.
quote:
Lets out compete China by turning into China!!!

I think you have it backwards. We used to out compete China. Now, its China out competing the US because they are turning in to the US, and the US is turning into France.


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