General Motors Company and China’s Sichuan Tengzhong Heavy Industrial Machinery Co., have announced that they have entered into a definitive agreement that will allow Tengzhong to acquire HUMMER from GM. “Under the terms of the definitive agreement, the buyer will acquire the ownership of the HUMMER brand, trademark and tradenames, as well as specific IP [...]
General Motors Company, which is working hard to cut its U.S. brand count in half, is trying to complete a deal to sell Hummer to Sichuan Tengzhong Heavy Industrial Machinery. According to a report by Bloomberg, the deal is said to be priced at $150 million. Three unnamed sources said that GM hopes to announce a [...]
General Motors in the midst of selling its Hummer brand to a Chinese company and Michigan really wants to keep the brand local. Sichuan Tengzhong Heavy Industrial Machinery Co., plans to invest up to $9.4 million into a new HQ located in either Detroit or Auburn Hills in light of the Michigan Economic Authority’s approval [...]
has been a while since we’ve heard anything on the sale of Hummer. Sources today are saying that China’s Tengzhong may finalize a deal with General Motors as early as next week to acquire the U.S. automaker’s Hummer brand. A source familiar with the deal said that Sichuan Tengzhong Heavy Industrial Machinery has been in detailed negotiations [...]
As a heads up – we are working on new egmCarTech. We have no timetable on when the new egmCarTech will be completed but we’re pretty sure you won’t be disappointed. It will have more features, more interactivity and will look a lot cleaner. Keep your hopes up – in the mean time, enjoy some [...]
It was reported last week that China’s National Development and Reform Commission (NDRC) is likely to reject Sichuan Tengzhong”s bid to buy Hummer since it feels that the Chinese company may not have enough experience and resources to run the SUV business. General Motors said today that it will now begin talking with regulators this week [...]
A state radio reported yesterday that China’s top economic planning agency is likely to reject Sichuan Tengzhong’s bid to buy Hummer from General Motors. The National Development and Reform Commission (NDRC) says it is worried that Tengzhong doesn’t have enough experience and resources to run the Hummer SUV business. The report also said that Hummer’s gas-guzzling [...]
Sichuan Tengzhong Heavy Industrial Machinery, the winning bidder for GM’s Hummer brand said that it expects the deal to be completed by October 2009. The company’s general manager Yang Yi, said that Tengzhong has no plans to transfer Hummer equipment and technology to China from the United States. He said that the company also has no [...]
So now that HUMMER is going to be owned by a Chinese company, Sichuan Tengzhong Heavy Industrial Machinery Co., what type of vehicles are we going to see in the future? The folks over at The Detroit Bureau recently sat down with Hummer’s boss Jim Taylor to discuss just that and much more. According to Taylor, Hummer [...]
Turns out reports of GM selling Hummer to Chinese buyer Sichuan Tengzhong Heavy Industrial Machinery Co., are true. The automaker has just released a press release stating that talks about the proposed transaction have advanced. “Tengzhong, a major industrial machinery group, will acquire the rights to the premium off-road HUMMER brand, along with a senior management [...]
