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06-02-2009, 04:10 PM
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Earlier today we reported that GM had reached a tentative deal to sell off the Hummer brand to an unnamed party. That company has now been identified as Chinese heavy machinery maker Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. - or just Tengzhong for short.
Tengzhong will take control of the Hummer brand including the senior operational team and the company's dealership network. It also plans to continue a relationship with General Motors in the immediate future while it looks to expand Hummer with new products.
"The Hummer brand is synonymous with adventure, freedom and exhilaration, and we plan to continue that heritage by investing in the business, allowing Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team," said Yang Yi, CEO of Tengzhong. "We will be investing in the Hummer brand and its research and development capabilities, which will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."
In an interview with Automotive News, Hummer CEO James Taylor said that long term the company will look to set up its own engineering and marketing offices in the United States.
Taylor also said that Tengzhong's plans include expanding the Hummer product lineup and using alternative powertyrains to help it meet with increasingly stringent environmental standards.
The Tengzhong company is the largest privately owned engineering company in China, specializing in heavy machinery for large scale construction projects, such as roads and bridges. It does not, however, have any experience in building passenger vehicles.
More: Hummer Buyer Identified as Chinese Heavy Machinery Maker Tengzhong (http://www.autoguide.com/auto-news/2009/06/hummer-buyer-identified-as-chinese-heavy-machinery-maker-tengzhong.html) on AutoGuide.com
Earlier today we reported that GM had reached a tentative deal to sell off the Hummer brand to an unnamed party. That company has now been identified as Chinese heavy machinery maker Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd. - or just Tengzhong for short.
Tengzhong will take control of the Hummer brand including the senior operational team and the company's dealership network. It also plans to continue a relationship with General Motors in the immediate future while it looks to expand Hummer with new products.
"The Hummer brand is synonymous with adventure, freedom and exhilaration, and we plan to continue that heritage by investing in the business, allowing Hummer to innovate and grow in exciting new ways under the leadership and continuity of its current management team," said Yang Yi, CEO of Tengzhong. "We will be investing in the Hummer brand and its research and development capabilities, which will allow Hummer to better meet demand for new products such as more fuel-efficient vehicles in the U.S."
In an interview with Automotive News, Hummer CEO James Taylor said that long term the company will look to set up its own engineering and marketing offices in the United States.
Taylor also said that Tengzhong's plans include expanding the Hummer product lineup and using alternative powertyrains to help it meet with increasingly stringent environmental standards.
The Tengzhong company is the largest privately owned engineering company in China, specializing in heavy machinery for large scale construction projects, such as roads and bridges. It does not, however, have any experience in building passenger vehicles.
More: Hummer Buyer Identified as Chinese Heavy Machinery Maker Tengzhong (http://www.autoguide.com/auto-news/2009/06/hummer-buyer-identified-as-chinese-heavy-machinery-maker-tengzhong.html) on AutoGuide.com