REPORT: Tengzhong deal for Hummer expected to close in Q3
 

<p>Filed under: <a href="http://www.autoblog.com/category/china/" rel="tag">China</a>, <a href="http://www.autoblog.com/category/hummer/" rel="tag">Hummer</a>, <a href="http://www.autoblog.com/category/off-road/" rel="tag">Off-Road</a></p><img border="1" hspace="4" alt="" vspace="4" src="http://www.blogcdn.com/www.autoblog.com/media/2009/08/hum_teng_close.jpg" /><br /><br />Slowly clearing one obstacle after another, Tengzhong is closer to sealing the deal to buy Hummer from General Motors. Chinese reports have come almost completely around, <a href="http://www.autoblog.com/2009/07/05/hummer-hanging-on-tengzhong-in-talks-with-chinese-government-to/">from the nearly certain "No"</a> of a few months ago to "the Chinese government has little to lose giving the green light."<br /><br />Chinese government officials didn't comment on the story, but the Chinese commerce ministry, one of the two bodies overseeing approval of the purchase, is now saying that it's only natural for Tengzhong to want Hummer. And with Tengzhong issuing pronouncements about mantaining Hummer's dealer network, it looks like the company is confident it will achieve its end. Final price is expected to be less than half of what GM wanted, coming in at around $200 million.<br /><br />Meanwhile, the vehicles like nothing else keep on trucking, taking part in this weekend's TSCO Vegas to Reno race. Chad Hall and Emily Miller are each piloting H3s -- hopefully through to Sunday's finish. If you're a desert racer, you can keep up with action at <a href="http://www.bitd.com/">Best in the Desert</a> or <a href="http://www.sopwithmotorsports.co m/live/">Sopwith Racing</a>.<br /><br />[Source: <a href="http://uk.mobile.reuters.com/mobile/m/FullArticle/eUK/CMOTUK/nautoIndustrynews_uUKTRE5 7H0HQ20090818">Reuters</a>]<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="http://www.autoblog.com/2009/08/23/report-tengzhong-deal-for-hummer-expected-to-close-in-q3/">REPORT: Tengzhong deal for Hummer expected to close in Q3</a> originally appeared on <a href="http://www.autoblog.com">Autoblo g</a> on Sun, 23 Aug 2009 16:15:00 EST. Please see our <a href="http://www.weblogsinc.com/feed-terms/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href=http://uk.mobile.reuters.com/mobile/m/FullArticle/eUK/CMOTUK/nautoIndustrynews_uUKTRE5 7H0HQ20090818>Read</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/08/23/report-tengzhong-deal-for-hummer-expected-to-close-in-q3/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/forward/19137579/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="http://www.autoblog.com/2009/08/23/report-tengzhong-deal-for-hummer-expected-to-close-in-q3/#comments" title="View reader comments on this entry">Comments</a>

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