Rust in Peace, and I don't mean the Megadeth album. Photo: Flickr, CC
The Sale to China's Sichuan Tengzhong Heavy Industrial Machines Fell Through
GM has been trying to sell its Hummer brand for about two years now. It has a preliminary deal with a Chinese company, but that collapsed when they couldn't get approval form the Chinese government. There's no solid timetable yet for the closure of the Hummer division, and there's always the possibility that new bids will emerge, but after this long, and considering that Hummers aren't exactly selling like hotcakes these days, it's getting unlikely.In the NYT:
"We have since considered a number of possibilities for Hummer along the way, and we are disappointed that the deal with Tengzhong could not be completed," John Smith, G.M.'s vice president for corporate planning and alliances, said in a statement. "G.M. will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner."
I don't think that the disappearance of Hummers will be a big loss to the world, though we must remember that despite the fact that they were more symbolic than other gas guzzlers, they aren't even close to being the biggest problem with our transportation sector.
In any case, both GM and Sichuan Tengzhong Heavy will certainly come out stronger in the long-term if they focus on the vehicles of the future (clean and efficient, both in operation, manufacture, and disposal).
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