As the deal for General Motors Co. to sell Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd. is being finalized, CEO Jim Taylor is working to have everything in place before Dec. 1. That’s the date that he is hoping GM would be able to close a deal for Hummer. Taylor’s efforts could only be described as Herculean since he has 340 items on his list. Taylor informed Automotive News what he had on his plate. First, he has to kick-start Hummer sales, a majority of which is in the US. Continued after the jump!

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General Motors Co. has begun production at its Shreveport, La. facility for the 2010 Hummer H3 SUV and H3T pickup intended for the US market. Hummer spokesman Nick Richards said that the current inventory is “very low” for the best-selling vehicle in Hummer’s small lineup. Continued after the jump!

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Despite reports that General Motors had already signed a deal last Friday to sell its Hummer brand to an investment partnership headed by Tengzhong , China ’s Commerce Ministry said on Saturday that it has yet to receive an application signifying Tengzhong’s bid.

There is speculation that this could constitute a regulatory obstacle to the deal. The Ministry of Commerce confirmed that Tengzhong has not yet submitted a copy of the purchase agreement to the Ministry, according to a report on Chinese state radio. The unnamed official further said that the Sichuan province is preparing its report on the situation to the Ministry. Since not much is known about the terms of the purchase agreement, the Ministry has decided not to say any more. Machinery maker Tengzhong, which is based in China ’s southwest province of Sichuan , needs approval from the Chinese government, including the Ministry of Commerce, which is said to be the ultimate authority over the deal. Jim Taylor, the GM executive who has contributed much to the realization of the sale, says that Chinese officials have informed him that the deal will be treated favorably.

Tags:car news, Hummer, hummer news, hummer sale, hummer sale news
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General Motors Co. completed the deal to sell Hummer to China’s Sichuan Tengzhong Heavy Industrial Machinery Co. for about $150 million today.  This move is in line with its restructuring plan to cut its US brand count in half.

We received this update from Bloomberg News, which cites no less than three unnamed sources. We’ve gotten a whiff of this development last June when GM said that it expected to sell Hummer to the Chinese heavy machinery maker, which has not had any experience in the auto industry. Hummer had so far given no comments. In documents filed in the summer of 2008 during the automaker’s 39-day bankruptcy, CEO Fritz Henderson estimated that the sale of Hummer “might realize $500 million or more.”

Tags:car news, Hummer, hummer news, hummer sale news, hummer sold, hummer sold sichuan tengzhong
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There’s a stigma attached to Hummer owners due to the vehicle’s high emissions and fuel consumption. However, according to the Journal of Consumer Research, this is mostly why people buy these cars.

The group asked a selection of 20 Hummer owners why they bought the large SUV and it was found most buyers were attracted to the macho US image the car portrays. While many believe that Hummer owners are seemingly unaware of the implication of their choice, the opposite is true. The report said that the owners find driving a Hummer “a highly moral consumption choice.” In reality, Hummers are claiming the moral high ground and think of themselves as the moral protagonist who “defends American national ideals.” The report claims that the negative stigma attached to Hummer ownership was appealing to buyers who wanted to defend the right of Americans to buy whichever car they wanted, regardless of emissions and image.

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Chinese company Sichuan Tengzhong Heavy Industrial Machinery will proceed with purchasing Hummer and reports are saying that the sale will go through this autumn. It had been speculated that the Chinese government would block the deal since the heavy machinery manufacturer had no experience of car sales.

Recently, China’s commerce ministry has announced that Tengzhong’s plans were normal for a company seeking to take advantage of the global downturn. Tengzhong has said that if the deal is completed, it will seek to maintain Hummer’s dealership network. A Tengzhong spokesman said that the company will cause “no change in Hummer’s existing global sales network and the quality of its after-sales services.”

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A Hummer capable of 100mpg? Electric also? What the…? Raser Technologies announced today that their new 100mpg Electric Hummer H3E will make its official debut at this year’s Plug-In Conference in Long Beach, California. The new vehicle is maybe the greenest Hummer of all times, and we don’t refer to the color…

According to the manufacturer this beauty uses electric motors till the speed reaches 40 mph after which a small gasoline engine is used to recharge the batteries, giving the Hummer a range of 400 miles before refueling. For those who don’t know it already, California Governor Arnold Schwarzenegger is a big fan of the American brand (which was recently bought by ) and hearing about this new green H3E he said that: “I got a sense that I was sitting in a car that represents the future of transportation in America.” Yeah, good point Mr. Governor!

Tags:100mpg electric hummer h3e, car news, Hummer, hummer h3, hummer h3e, hummer news, raser hummer h3e, raser technologies, raser technologies h3e
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Tengzhong, the Chinese company proposing to buy Hummer, is in talks with the Chinese government in its bid to have its deal with GM approved. The Tengzhong spokesman however, didn’t confirm how much progress has been made in the talks. Tengzhong has received much criticism from the Chinese media for its proposal to buy Hummer.

Critics say that the heavy machinery manufacturer doesn’t have the experience in international business for it to be successful. These critics are also questioning the timing of the move since currently, China is moving to cut its CO2 output. Under Chinese laws, a company that wants to buy an overseas firm for more than $100 million ((£62 million) has to get state approval.

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Concerns regarding the environment restrain Tengzhong’s plan to purchase Hummer. This was based on a recent report by the Chinese National Radio. Tengzhong, while still working on the deal, released a statement that CNR (Chinese National Radio) report has no basis in as much as there wasn’t any information from the government regulatory body.

Last week, in its report, CNR floated the idea that it is still possible for Tengzhong to get government approval. Speculations are rife that the company will get the nod to acquire Hummer given the fact that three options are being proposed to conclude the deal. Continued after the jump!

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Even though many believed that the interest of Sichuan TengzHong Heavy Industrial in buying Hummer was just a rumor, GM is making firm moves in order to strength that both companies are in the middle of advanced take over discussion.

The recent demand of the GM’s officials for a government approval for selling the famous brand to the Chinese Company, comes as a statement of the serious intentions. Mostly because it is not used to request discussion with regulators before having at least a formal agreement set up.The Chinese Ministry of Government considers that Tengzhong’s proposal for taking over Hummer is mostly a strategic move to benefit from the global downturn. Probably there are some Chinese voices not very happy with this move and this is why they are trying to create welter. “We will start discussions with the Chinese government this week on the Hummer deal. We can’t sign the deal unless we have approval from the government,”declared Michael Albano, spokesmen for GM’s Asia Pacific operations.

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