Recork the Champagne? China says Hummer paperwork not submitted yet
2008 Hummer HX concept – Click above for high-res gallery
Last week, it was reported that General Motors had signed a definitive agreement to sell Hummer to Chinese machinery manufacturer Tengzhong. The Chinese company and its partner in the deal, Lumena Resources Corp., would pay $150 million and receive Hummer and its intellectual property, ownership of U.S. franchise agreements, and manufacturing, business, and component assistance during a four- or five-year transition period.
The questions being raised now concern what is happening on the other side of the Pacific. The Chinese Commerce Ministry reportedly hasn't received Tengzhong's application to officially bring Hummer home, which has led observers to wonder if there will be a holdup or reversal of the deal. According to a Hummer representative, however, Tengzhong had to finalize the deal with GM before it could present it for approval to the Chinese authorities:
The closing of the transaction is subject to customary closing conditions and regulatory approvals and/or review by agencies in China and the U.S. Tengzhong has started communicating with the relevant regulatory bodies and will continue to support the application process in accordance with the requirements. Formal engagement was only able to begin with the signing of the definitive agreement.If all goes well, Tengzhong hopes to have the deal closed by early 2010.
[Source: Automotive News, sub. req'd.]
Reader Comments (Page 1 of 1)
Adisah 4:42PM (10/12/2009)
This hummer looks really cool. They could take out the two back seats and put in a HUGE battery. Then you could charge through the giant USB looking ports on the front.
Hummers are perfect for being EVs they have all the extra space to hold larger lithium ion batteries.
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Tourian 5:46PM (10/12/2009)
Only funny because they DO look like USB ports.
Chibi Chaingun - blackhivemedia.com 6:16PM (10/12/2009)
It's only 3 player! :( I guess it could accept wireless controllers as well...
Todd 4:57PM (10/12/2009)
Can't wait to yell "BUY AMERICAN!" at all the people I see driving by in a Hummer.
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Thomas 5:11PM (10/12/2009)
Anyone you see driving a Hummer _did_ buy American.
Venom 5:18PM (10/12/2009)
Todd,
That's beautiful, lol.
Rich 5:50PM (10/12/2009)
Thomas, America is made up of a lot of folks besides those who love waste and retardation. I love American despite them, not because of them.
Thomas 6:04PM (10/12/2009)
It would be _retarded_ to tell someone who bought an American made hummer to "buy American," Rich.
Marreroj 10:08PM (10/12/2009)
civics and Camry are american built so buying a hummer will be as american as buying a civic.
also if this HX to turns into an H4 i would take it over a wrangler anyday.
Polarstar 5:02PM (10/12/2009)
I want one of those.
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MM 5:25PM (10/12/2009)
Funny, if it wasn't for California Emissions and CARB, we could have the H3 that they have overseas with the 4 Cylinder Turbo Diesel that yields about 30 MPG, and then maybe GM wouldn't have had to sell Hummer to China.
F#cking California.
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Rich 5:51PM (10/12/2009)
I said "hold it" in a comment to another article about California policy, but in this case, I wholeheartedly agree. CA's policy regarding diesels is mindless.
Aznauto 7:19PM (10/12/2009)
China is lot like US in 40s who were grabbing up British companies/assets for cheap after WW2 as it rose to super power status, and US In this case is ironically like UK.
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Avinash machado 4:20AM (10/13/2009)
I wonder whether the Hummer sale will also end up like the Saturn sale.
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TXTurbo930 4:42PM (10/13/2009)
I want one...but won't purchase one if this deal is finalizes. I can't stand buying anything else from the Chinese.
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