backtop


Print 108 comment(s) - last by jconan.. on Jun 17 at 9:38 PM

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.



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Sad.
By lagomorpha on 6/4/2009 12:43:35 AM , Rating: 2
1) Given the economic expansion of China it's unlikely getting 300 million Americans to drive more efficient vehicles will offset the increasing global demand for oil.

2) Hydrogen is an energy storage technology, NOT an energy production technology. It takes more energy to crack water into hydrogen and oxygen than you get by burning it or hydrogen can be produced from natural gas. You cannot get energy for free, that is the first law of thermodynamics. The only way to get a net positive energy from hydrogen is to crack it from water and then fuse it into helium, something we do not yet know how to do effectively.


"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki