Tengzhong: There Will Be Only One Hummer

Sichuan Tengzhong Heavy Industrial Machinery who's now seen as the favorite to take over GM's Hummer unit, said the deal might be completed by October but refused to provide other details on the matter. The company has been a little reticent when it comes to the deal with General Motors, especially after some media reports claimed that Chinese authorities might block the acquisition.

"I hope you can understand, but there are many things I cannot talk about," Yang Yi, the firm's general manager, was quoted as saying by Autonews. "We think a deal should be completed by the third quarter."

As for the price the Chinese company is going to pay for Hummer, there are lots of rumors, some saying that Tengzhong is going to pay much less than the $500 million demanded by General Motors.

Anyway, Yang Yi confirmed that Hummer will continue to exist as a global, unique brand that would offer the same products worldwide, including the United States and China. Furthermore, he also hinted that one of their main intention is to turn Hummer into a greener company that would rely on fuel efficient and environmentally friendly engines much more than in the past. However, once again, he didn't provided specific details on the matter.

"There will not be a China Hummer and a U.S. Hummer," Yang said. "There is only one Hummer. We want to make a green Hummer. We think the Hummer has huge potential in emerging markets. Tengzhong and Hummer are very aware of the government's fuel-efficiency requirements. Hummer has already achieved substantial progress in this area."