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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 4:12:40 PM , Rating: 2
quote:
guess as an engineer, I like to see a problem effectively solved.

I'm a former systems analyst, so I know where you're coming from.
quote:
100% agree that US's (mine) current system of government is out of control

That is mine too (US Citizen)
quote:
since at least Reagon, no Carter, no Nixon.

Reagan was the best president of the last few decades. Carter was complete waste - 20% mortgage rates, hyperinflation, high unemployment. Clinton was nothing more than lying & cheater appeaser. The first Bush was so-so,at least he kicked some ass and did it quickly. The second Bush was a great leader for a time being, but got too consumed and in over his head recommending bailouts, wasteful spending, privacy acts, etc. And Obama...well, lets just say that I'd rather vote GW Bush in for a third term over Obama.


RE: Sad.
By Keeir on 6/3/2009 4:25:48 PM , Rating: 2
Hmmm... Most of his (Reagan) policies were good, but in the long term, he borrowed way too much to cover the shortfalls. Maybe overall this was a good policy, but it still hurts. In fact Reagan was the first president from the end of WWII to increase the nations debt/GDP ratio. Even at times when GDP was skyrocketing, he borrowed and borrowed money.


RE: Sad.
By Oregonian2 on 6/3/2009 6:53:34 PM , Rating: 2
But in retrospect, with the current Federal borrowing rate, Reagan's was peanuts at most.


RE: Sad.
By fic2 on 6/3/2009 7:42:17 PM , Rating: 1
quote:
The second Bush was a great leader


I think that says worlds about your intelligence level.


"Well, we didn't have anyone in line that got shot waiting for our system." -- Nintendo of America Vice President Perrin Kaplan














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