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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 fic2 on 6/3/2009 7:39:54 PM , Rating: 2
But the fuel tax goes into the general tax fund and doesn't go into a road maintenance fund. In Colorado every two years the politicos bring up the "fact" that the road systems are deteriorating and there isn't enough money to pay for them. This even though every two years the voters get suckered into upping a tax or fee or something to "bridge the gap". It is like the school funding crap. Never enough money even though funding goes up at least 2x cost of living every year.

Colorado registration is based more on the price and age of the car than on weight.

About two months back Colorado passed a flat fee increase on all car registrations. Not based on weight, fuel consumption, color, height, anything except is it a vehicle.

Higher fuel tax was mentioned, but was quickly shot down even though Colorado has one of the lowest fuel taxes in the U.S.

The only other type of increase that was mentioned in all the material I read on the increase discussion was taxing the number of miles you drive per year. Got to be up there for all time stupid idea award. But, the Dems are in control and they just love to create more gov't bureaucracy and that would be up there since it would probably involve at least another 1,000 people tracking the mileage of all the cars.

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