Hummer going Chinese before October
June 15, 2009 by Alborz Fallah
Get used to this name: “Sichuan Tengzhong Heavy Industrial Machinery” (STHIM), the new owner of GM’s once popular Hummer brand has announced that it aims to finalise the deal before October.
STHIM General Manager Yang Yi said in an interview with the Us industry publication Autonews that his company has no intentions of transferring Hummer equipment or technology to China. Interestingly the Chinese company will also not take on any debt accrued by the current business.
Reports from China indicate that STHIM is not even well known by the Chinese so the deal has been a bit of surprise to everyone. Insiders say the Chinese bought Hummer for much less than the US$500 million price tag GM was asking for. Some even suggest it may have been as little as US$100 million in cash.
STHIM currently only manufacturers special-use vehicles plus bridge and highway components so their ability to maintain a brand as large as Hummer is still to be determined. However the Chinese company intends to keep the current Hummer management team to keep things in order for the time being.
The idea is to take Hummer global, away from its current 70 per cent sale base in the States to establish it self in more emerging markets. “We want to make a green Hummer,” Mr Yang said.
“Tengzhong and Hummer are very aware of the government’s fuel-efficiency requirements,” he said. “Hummer has already achieved substantial progress in this area.”
Whatever the future holds for Hummer, it should be interesting either way. STHIM’s complete lack of experience in both overseas markets and in the automobile industry could either be a blessing for Hummer to reinvent it self or a disaster waiting to happen.
Print it: 
That’s right as part of the bankruptcy The “old GM” will sell their assets to the “New GM” yet retain all the outstanding debts and that GM incurred in the past – as they are technically two seperate legal entities
Therefore I’d say the sale of Hummoer to the Chinese is been between either:
the “Old GM” and the Chinese to help give the “Old GM” money to pay-off some of their current liabilities etc [which would obviously need approval by New GM]
Or the “New GM” and the Chinese which would give the “New GM” extra capital to help with restructuring or maybe even more Research and Development of future projects that are currently on ice etc
Eitherway the US Government who I’d say will also have to approve the deal; will be happy as no US jobs will be lost
for those who have seen “who killed the electric car”,close your eyes and picture the ev-1 screaming past the hummer,for the last time(life’s been good to me so far)…
It’s still Hummer even if it has new owner. Let’s wait and see what will STHIM do with it, change the design or feature. But I just hope they won’t change much of it since it’s well known already.
I hate the H3, its like a fake hummer for idiots
Toxic_Horse Says: ”
I hate the H3, its like a fake hummer for idiots”
So true… It’s just a holden rodeo/colorado with a hummer like body!
Creditors need to be paid first, so I would assume option 1 Wheelnut.
i hope for chinese prices…