Despite speculation that the Chinese Government is blocking the sale of HUMMER to Sichuan Tengzhong, a company spokesperson says that the deal is still progressing.
“We do not yet have a definitive agreement, but are developing our proposals with GM and Hummer and we will continue to engage with the appropriate authorities in an appropriate manner,” a company spokesperson told the Wall Street Journal.
While rumors have been swirling, things really took off this morning when China National Radio reported a sale would not go through and the story was run by the BBC.
Sichuan Tengzhong pointed out that the original radio story did not quote anyone of authority at China’s National Development and Reform Commission. “Some people may have views and speculation, but the Chinese government has a process that we respect,” said the spokesperson.
Formal discussions with the Chinese government regarding the purchase of HUMMER are expected to begin next week.