Tag Archive | "Tengzhong"
Financing, Regulatory Obstacles Surface in HUMMER Deal
(Updated 12:02 ET — Bloomberg is now reporting that GM has “failed to win approval from Chinese regulators to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co.” At this point as the news is breaking, we think its important to note that we’ve heard no official word from any government or party [...]
Continue reading...Chinese HUMMER Production Possible with SAIC
Tuesday, December 29, 2009
Reports this morning are saying that Tengzhong, the company currently trying to purchase HUMMER from General Motors, may team up with Shanghai Automotive Industry Corp (SAIC) to produce HUMMER branded vehicles in China. HUMMER’s CEO noted recently that the company is considering production in China, but primarily for in-country distribution. HUMMER has long term plans [...]
Continue reading...GM to Shut Down SAAB, HUMMER Becomes Last Brand Liquidation Hopeful
Friday, December 18, 2009
Reducing the number of total brands offered was one of the key components in General Motors’ restructuring plan announced earlier this year. Pontiac was to be shut down, and Saturn, Saab, and HUMMER were to be sold or shut down. GM announced today that Saab would be shut down, leaving HUMMER as the only brand [...]
Continue reading...Ask Jim Part 3: New HUMMER Brand Ownership
Wednesday, December 16, 2009
When the HUMMER brand becomes independent from GM, it will also be getting a new parent company in China’s Sichuan Tengzhong . While the new ownership will essentially allow HUMMER to operate as an independent U.S. company making its own decisions, some may still be uneasy about having the parent company overseas. In part three [...]
Continue reading...HUMMER Purchase Approval Unlikely This Week
Wednesday, December 2, 2009
HUMMER’s self imposed goal of wrapping up the brand’s sale to Chinese company Tengzhong this week is unlikely to be fulfilled. In November, HUMMER CEO Jim Taylor said that approval process was expected to take four to six weeks, and the week of December 1st would mark week six. According to Reuters, the Chinese Ministry [...]
Continue reading...HUMMER’s New Business Model to be Leaner, Faster
Monday, November 9, 2009
One good thing about buying a General Motors vehicle is that you know every single piece of the vehicle has undergone extensive tests for durability and performance. Unfortunately, the way GM conducts that process can take several years which significantly slows down the release of new features and new vehicles. HUMMER is looking to break [...]
Continue reading...GM Axes Saturn Brand, Could HUMMER be Next?
Wednesday, September 30, 2009
GM announced today that it could not come to an agreement with Penske Automotive Group to unload their Saturn brand, and without an agreement, the Saturn brand will be shut down. Since Penske doesn’t have a manufacturing background, after short-term manufacturing contract with GM expired they would have to find another 3rd part to produce [...]
Continue reading...Obama’s Angering of Chinese Could Delay HUMMER Deal
Monday, September 14, 2009
If there’s one group that HUMMER could use on its side right now is the Chinese Ministry of Commerce (MoC) – the regulatory committee that deals with all inter-state trade issues, including the approval process for China’s Tengzhong to purchase HUMMER from GM. Last week, President Obama imposed new tariffs on Chinese-made tires, angering the [...]
Continue reading...
Tuesday, February 23, 2010
8 Comments