GM, Tengzhong extend Hummer deal deadline… again

Earlier last month General Motors suspended production of Hummer vehicles pending approval from the Chinese government with regards to its deal to sell the brand to Sichuan Tengzhong Heavy Industry Machinery. Well, it doesn’t seem like Hummer vehicles will re-enter production anytime soon because GM and Tengzhong have extended the deal deadline to the end of February.

“GM and Tengzhong agreed to extend the deadline to the end of February,” Tengzhong said in a statement, adding that the company was waiting for approval from Beijing to finalize the deal.

Hummer boss Jim Taylor said the transaction approval process was not proceeding as quickly as originally expected.

– By: Stephen Calogera

Source: Reuters