India China War- I hate China!
General Motors to sail away from bankruptcy agreed to sell its flagship brand the “Hummer” to China's Sichuan Tengzhong Heavy Industrial Machinery Co.By selling hummer GM plans to secure 3000 jobs. After selling four of its US brands GM is planning to limp back to become a profitable company it used to be.
Tengzhong is not making a bad deal either. By buying hummer they plan to capture a large chunk of the china’s SUV market which has already surged by 25% last year. Also it would help them enter emerging markets and stand out as a global player.
"There are a lot of new rich in China who like niche brands such as Hummer," said Ricon Xia, a Daiwa Institute of Research analyst in Shanghai. "A lot of private companies like Tengzhong have emerged because of the economic boom and they will strike more surprising deals like this one."
The other brands that GM plans to sell are Saturn and Saab. They are also likely to cut down the production of Pontiac considerably.
"This is a good acquisition for Sichuan Tengzhong and a good sale for GM," said Wong. "They can do the manufacturing and marketing in the US, but in addition to that they can produce Hummer elsewhere for markets such as China, India and the Middle East."
The Hummer sale should be completed by the end of the third quarter.
Well China will do what China does best. Imitate! Once they get their hands on hummer they will start imitating the technology and make variety of international cars at cheaper rate. I can bet on it. I just wish That Mahindra would have bought the Hummer. Then we could have earned the profits that now China will. :) there is a Chinese walking past me while I write this, I am going to take the chance and kill one, will do my country a favor.
good information thank you so much
BTW. The guy in the pic is a Japanese comedian.