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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 Nfarce on 6/3/2009 8:27:11 PM , Rating: 2
quote:
Please bring one of your yank tanks down here to AUS, and go outback. Try going from Brisbane to Perth via Alice Springs. Hint: Bring your sand tires, several spares as well, several jerry cans of fuel and several more of water.


Okay, I'll see your call and raise you: throw in towing a boat or camping trailer that we "yanks" like to haul around in our "tanks." Of course, I won't go into the need to haul around a lawnmower in said "Yank tank" to make a living cutting grass or chopping trees down and selling firewood from the back of a pickup. Guess that wouldn't work down in your land very well either, eh bloke?


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