Hummer sale to Chinese underneath threat

Christine Seib & , : {}

General Motors" (GM) understanding to sell Hummer to a Chinese machine association looked to be in risk as a deadline to win Chinese Government capitulation for the sale loomed.

Reports from Middle East pronounced that Sichuan Tengzhong Heavy Industrial Machinery Company was exploring alternative options for appropriation GM"s gas-guzzling marque as it grew increasingly doubtful that China would authorize the purchase.

Tengzhong, one of the greatest in isolation industrial machine companies in China, hoped to buy Hummer for an estimated $150 million. But the association indispensable to remonstrate the Government that the understanding would lead to some-more fuel-efficient vehicles, in line with Government immature policies.

Reports referred to that Tengzhong might right away try to bypass the Government by appropriation Hummer by an offshore company.

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GM and Tengzhong had creatively hoped to finish the understanding by Jan 31 but pushed the deadline to Feb twenty-eight whilst China dragged out the deliberations on the acquisition.