backtop


Print

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.





"DailyTech is the best kept secret on the Internet." -- Larry Barber






Most Popular ArticlesSony’s 4K OLED Smart TV
August 13, 2017, 6:20 AM
Acer Chromebook 11 C771 – Durable Education Companion
August 10, 2017, 6:40 AM
Ticwatch E and S on Kickstarter
August 11, 2017, 6:00 AM
Dell XPS 27
August 9, 2017, 6:00 AM
Facebook introduces Watch, a new platform for shows
August 10, 2017, 6:00 AM

Latest Blog Posts
Xiaomi Mi 6 Smartphone.
Nenfort Golit - Aug 8, 2017, 6:00 AM
ASUS 23-inch Monitor
Nenfort Golit - Aug 4, 2017, 6:00 AM






botimage
Copyright 2017 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki