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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: Military
By mdogs444 on 6/3/2009 5:53:51 PM , Rating: 2
So when I come into these forums to see these ass clowns rail on Obama or Pelosi for being socialist, reciting Fox News talking points, it pisses me off that the education here in the US is so poor to create this morons.

Hmm. Ok, so we know which side of the fence you're bringing your viewpoint from. But then you say:
Besides the US and Europe though, we're profitable everywhere else.

And tell me, why do you think that is? Perhaps too much government intervention and regulation not only in business, but peoples lives and buying limitations? Ahh yes, and its only getting worse....under Obama and Pelosi.

Its quite comical that your rebuttal tries bash others viewpoints while trying to blame Fox News. There is only one group of people who do that - angry liberals.
labor component of parts we buy varies considerably but is often 2-6% of the component price in the US and Canada. In 90% of the cases, even if labor were free in China, Korea India,Japan etc it wouldn't make up for the transportation costs.

Wait, you work for GM, so are you a Union member too? Now its starting to make sense. You are honestly trying to blame everything in the world - except labor costs, US government regulation, and the union stranglehold. Yeah, must all be Fox News fault.

RE: Military
By Nfarce on 6/3/2009 8:17:12 PM , Rating: 3
It's quite comical that your rebuttal tries bash others viewpoints while trying to blame Fox News. There is only one group of people who do that - angry liberals.

Don't forget the ubiquitous "you are just saying what Rush told you what to say" and the "you are just full of hate" comments. Those two are my all time favorites.

RE: Military
By Brutus1234 on 6/3/2009 8:29:19 PM , Rating: 4
For your information, I'm not Union.

I have an engineering degree, I have an MBA
I speak 4 languages and hold 3 active citizenships.
I chose to be American ( that's the one I'm proudest of )
The other 2 I was born into.

I've been in more countries and more manufacturing facilities than I can remember to count.

Every day I shut down companies who are working their asses off to compete. Even in these circumstances these people are professional and honorable in their actions. Unlike the Chinese companies who close their doors and don't bother to tell you.

I've personally negotiated agreements that put approx 10000 people out of work.

Yes I have some emotion behind my comments

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