A four years old Heavy Industrial Machinery Corporation in China Sichuan province,named Tengzhong,which there is onle 4300 employees,and never made passenger cars,said it was buying the General Motors Corp. unit.That surprised Chinese people,also surprised the world.
Tengzhong will develop more fuel-efficient Hummers for the U.S. market,CEO Yang Yi said in a statement.He said Hummer's headquaters and operations will remain in the U.S. and the company will continue to be led by its existing management.According to the agreement,3000 job opportunities will be remained in the united states.
Can the brand known as "Han Ma" in China be revived by a newcomer to auto industry?Many people take a sceptical attitude,and worried about the takeover.One Shanghai Hummer owner,said he had mixed feelings when he learned the producer of his beloved H3 model had been sold to a Chinese company.
"From the point of view of supporting Chinese products, we are very glad a Chinese company is capable of buying the brand," he said. "From a selfish point of view, I don't really want this to happen."
Though Chinese government is encouraging enterprises to expand their business abroad.But be too hasty or to attempt overly ambitious takeovers was warned.Because the takeovers may carry with them debts and costly obligations.
Americans expressed their wishes that the Chinese company will make improvements to the famous Hummer.California Gov. Arnold Schwarzenegger who loved Hummer said he thinks the Chinese will probably convert the 15 mpg Hummer to one that gets 30 or 40 mpg in a short time.
Chinese Monthly auto sales have surpassed those of the United States so far this year and set a record of 1.15 million units in April.Sales of SUVs and other luxury models are growing at double-digit rates.
One Auto analyst expressed his point about the future of Hummer in China."If they come to China and manufature here,lower the price and improve the fuel efficiency,then there should be a market here","if the new owners stick to the United states,you can't grow,because in the U.S. market,the customers' attitude is very clear.They want to shift to more fuel-efficient vehicles."
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