The Chinese company Sichuan Tengzhong Heavy Industrial Machinery could be paying $500 million for General Motors' Hummer brand. The deal could save 3,000 American jobs.
As for the rest of GM, I have the feeling the federal government will keep pouring tens of billions into it until the 2012 election. Then we'll see the sudden abandonment of a ton of bad, expensive ideas.
Frank Warner
Did anybody think that the "Hummer" is the standard vehicle of the US military. Selling it to the Chinese makes no sense.
What are these clowns thinking ?
Posted by: Neo | June 04, 2009 at 12:54 AM
Near as I can tell, they're not getting any military technology. All they're getting is the brand name, the licensing fees, and two assembly plants -- one in Shreveport and another in South Africa. H3 is the only one assembled in these plants, and it's not even based on the Humvee. Correct me if I'm wrong. In fact, most of the critical civilian technology belongs to the parts suppliers. China will continue dealing with them for several years.
I'm thinking it's really the brand name they want, for sales in the PRC more than in the US. The PRC already produces a decent copy. It's not rocket science. (They already stole that.)
Posted by: jj mollo | June 05, 2009 at 01:09 AM