We don’t speak or read much Chinese, but luckily for us, other news sites have already translated 163.com’s report that outlines the terms of Tengzhong’s purchase of HUMMER from GM, and mentions production of the new H4.
Here is what has been disclosed via “exclusive sources:”
1. Tengzhong will buy the intellectual property rights, including the trademark, patent right and other contents of Hummer;
2. Tengzhong will take over the sales network of Hummer;
3. After the acquisition, Tengzhong will operate the Hummer’s business via an offshore company;
4. Before 2012, Hummer vehicles will continue to be manufactured by GM, who will also provide all-around technical services;
5. Before 2012, Tengzhong will launch the new H3 and new H4 (CUV models);
6. The [Hummer] marketing maintenance and R&D (research and development) will not be stopped.
The most striking provision is number 5, which talks about a redesign of the H3 and the introduction of the H4 CUV model. While we expected HUMMER’s future vehicles to be along the lines of the HX Concept, this is certainly good news for those looking for a rough timeline of when to expect the new HUMMER model.
We hope this is a good sign that negotiations this week are going well, and that a deal is imminent.
Stay tuned – we could have a busy week!