Archive for the ‘Sichuan Tengzhong’ Category

HUMMER's sale is all but complete--though there are some worrying details left to be handled with the Chinese government--and talk of production resuming in the Shreveport plant where the H3 and H3T are built is already starting to leak out from the company.

Dealers will be glad to hear the news, should it prove true, as many are running so low on inventory that they've had to shutter their showrooms temporarily. They'll still face a bit of a wait, however, as production isn't rumored to restart until November.

Once it does get back underway, the transition back to sales should be smooth, as Tengzhong plans to keep CEO James Taylor and...

The saga of GM's sale of HUMMER has finally come to a close. With the sudden collapse of the Penske-Saturn deal last week, many feared a similar fate would befall HUMMER, but today's announcement of the sale agreement between GM and China's Tengzhong puts those fears to rest, at least for the present. The deal must still secure final financing and pass regulatory approval.

Tengzhong, known formally as Sichuan Tengzhong Heavy Industrial Machinery Corp., is the Chinese firm that's been the front runner for the purchase of HUMMER for months now. GM's announcement this morning means that 3,000 U.S. jobs will be saved thanks to manufacturing...