Tag Archive | "Tengzhong"

Financing, Regulatory Obstacles Surface in HUMMER Deal

Tuesday, February 23, 2010

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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 […]

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Chinese HUMMER Production Possible with SAIC

Tuesday, December 29, 2009

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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 […]

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GM to Shut Down SAAB, HUMMER Becomes Last Brand Liquidation Hopeful

Friday, December 18, 2009

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GM to Shut Down SAAB, HUMMER Becomes Last Brand Liquidation Hopeful

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 […]

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Ask Jim Part 3: New HUMMER Brand Ownership

Wednesday, December 16, 2009

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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 […]

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HUMMER Purchase Approval Unlikely This Week

Wednesday, December 2, 2009

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HUMMER Purchase Approval Unlikely This Week

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 […]

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HUMMER’s New Business Model to be Leaner, Faster

Monday, November 9, 2009

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HUMMER’s New Business Model to be Leaner, Faster

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 […]

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GM Axes Saturn Brand, Could HUMMER be Next?

Wednesday, September 30, 2009

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GM Axes Saturn Brand, Could HUMMER be Next?

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 […]

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Obama’s Angering of Chinese Could Delay HUMMER Deal

Monday, September 14, 2009

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Obama’s Angering of Chinese Could Delay HUMMER Deal

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 […]

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