Posted on 06/02/2009 1:20:48 PM PDT by Oakeshott
General Motors Corp. took a key step toward its downsizing on Tuesday, striking a tentative deal to sell its Hummer brand to a Chinese manufacturer, while also revealing that it has potential buyers for its Saturn and Saab brands.
GM has an agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. of China, said a person briefed on the deal.
The Detroit automaker announced Tuesday morning that it had a memorandum of understanding to sell the brand of rugged SUVs, but it didn't identify the buyer. A formal announcement of the buyer was to be made Tuesday afternoon, said the person briefed on the deal. The person spoke on condition of anonymity because the details have not been made public.
Sichuan Tengzhong deals in road construction, plastics, resins and other industrial products, but Hummer would be its first step into the automotive business.
GM said the sale will likely save more than 3,000 U.S. jobs in manufacturing, engineering and at various Hummer dealerships.
(Excerpt) Read more at businessweek.com ...
Hummers rock, even the chicoms now this.
KNOW this
A Hummer? Chinese money? Technology winds up in China’s hands?
Reminds me of the clinton years.
I’ve heard Chinese hummers are quite popular.
who is going to want a chinese hummer? oh, wait, that’s not what I meant . . .
I’d prefer a japanese hummer.
“You buy our t-bills & we give you Hummers.”
US Treasury Dept.
Wow. Where do I sign up to learn to speak Mandarin Chinese? Because the way things are going, it’s starting to look like they will be our future overlords.
Will Master Obama allows the American slaves to import the Hummers? Now China can pollute even more than they do and we must be forced to drive electric cars so we don’t pollute. Duh?
I only have two references about Hummer, so it might not be totally true.
First I thought seriously about buying a H3. After a series of drive tests, no way. Tippy, drive dynamics sucked, jsut the whole package was out of date styled and executed. The local dealer went bust about a year ago.
Second a doctor friend has ownered an H2 for 3 years, he says no way would he buy another. Way too many problems.
So that’s my tale and I’m sticking to it. No hummer for me.
Me drive you long time.
This is a brilliant move by the Chi coms as they strategize our demise.
Now that they will be a huge military vendor, perhaps we should also sell them Lockheed, Raytheon & General Dynamics. We can give them “conversion features” like on those GM Preferreds where if they keep buying our Treasuries, they can convert them to NASA shares as well.
The technology for crappy, poor quality, over priced, gas guzzling SUVs? They can have it.
Hungary should have bought it. Something about a Hunky Hummer that rolls of the tongue.......
You are correct. H2’s 10 mpg on a good day. My friend couldn’t back his 3500lb boat up his driveway with a 6 liter hummer because the thing is so heavy to start with. Had to put it in 4wd. His old suburban did it just fine.
Humvees are not built by GM, but by AM General in Mishawaka, Indiana.
I think people confuse the Hummer with the Humvee that the military uses. GM doesn’t manufacture those, and any comparison between the two is purely accidental.
The H2 is built on a Tahoe platform and the H3 is built on the Trailblazer platform; of the four, I think the Tahoe and Trailblazer are more utilitarian.
On a duck hunt 2 years ago when one of the hunters showed up in a Hummer H2, the guide said, “Hey, this ain’t ‘Pimp My Ride.’ We’re duck hunting.”
Obama taught us that Iranians can have nukes but we have to have solar power and electric cars
and now, Obama taught us that China can have Hummers but we cannot have a private auto industry
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