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Hummer looks set to be Chinese owned

Hummer looks set to be Chinese owned

Posted on Oct 10, 2009 by

GM has finally inked an agreement with China’s Sichuan Tengzhong Heavy Industrial Machinery Co for the sale of its iconic brand.

In an official statement GM said the companies had entered into a definitive agreement that will allow Tengzhong to acquire the once all-American off-road brand.

As promised earlier, the new owner Sichuan Tengzhong intends to keep Hummer’s headquarters near Detroit, motivated in part to by the $20.6 million state tax credit from the state of Michigan.

Also, the current management team of Hummer would remain intact including CEO James Taylor. Manufacturing will continue through existing Hummer plants in Louisiana and Mishawaka thereby securing as many as 3,000 jobs.

Future plans of the company under new ownership focus on creation of more fuel-efficient SUVs by incorporating E85 flex fuel capability across the range.

 

Also, the current management team of Hummer would remain intact including CEO James Taylor. Manufacturing will continue through existing Hummer plants in Louisiana and Mishawaka thereby securing as many as 3,000 jobs.

Future plans of the company under new ownership focus on creation of more fuel-efficient SUVs by incorporating E85 flex fuel capability across the range.

 

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