Chinese Hummer deal expected to be finalized soon
It’s been awhile since we last heard of the Hummer-to-China deal, but apparently, the two sides have been working hard on ironing out the final kinks of the deal that would involve Sichuan Tengzhong Heavy Industrial Machinery buying one of the most iconic SUV brands in the world.
As part of the deal, which is expected to be completed at the latter part of the year, Tengzhong will maintain Hummer’s vast dealership network – the SUV brand is sold in more than thirty countries around the world.
A Tengzhong spokeswoman said: “there will be no change in Hummer’s existing global sales networks and the quality of its after sales services after the completion of the deal.”
For a while, the deal was being opposed by members of the Chinese government because it didn’t reflect too positively on the country’s attempt in becoming more eco-friendly.
Now it seems that the government has reserved course, with the commerce ministry softening its stance, saying that the deal was nothing more than a company taking advantage to grow its portfolio and network all over the world.
With talks now in the advanced stages, expect the deal between Tengzhong and Hummer to be finalized sooner than later.