The big news of the day is of course, Sichuan Tengzhong Heavy Industrial Machinery Company’s purchase of Hummer from GM. The New York Times were the first to break the story, but GM soon released a press release which confirmed earlier reports. The Chinese automotive press were naturally all over the story, and Chinese netizens were busily commenting on the story all day which CCT has summarised below.
Sichuan Tengzhong have reportedly already put down a 100 million USD deposit on the Hummer brand, and the deal will be reportedly complete by September 2009, making the iconic American brand a wholly owned Chinese company.
Sichuan Tengzhong’s plans for Hummer are not immediatly clear, they do plan to keep the Hummer factories in place in the USA, and with 3000 workers in place.
Chinese netizens were very vocal in their comments on the story, here are some from the Auto.Sohu channel:
If its for technology, then 1 billion is worth it, if its for the brand, then its their loss
Oh! Really sad! Why are other countries brands worth so much? Why do Chinese people like to buy in foreign goods? Look at history, which Chinese brands were successful?
This deal will most certainly loose money
Hummer branding maybe worth 1 billion, but can it be made it back?
What are you doing buying rubbish? Sichuan people have too much money
The king of oil consumption, not on the same level as Great Wall Motors though
When are we going to buy Boeing?
Just doing big business, but wont make big money
Nobody has ever heard of Sichuan Teng Zhong brand, never mind the Hummer brand. In one bite they have become a fat man, I strongly support our national enterprises opening new boundaries. Could it be said that we’ve found yet another area of economic devleopment?
What does China lack the most? Its not technology, its branding. Technology needs one generation, craftwork takes three generations, but branding takes generations of history to build.
This is great, they [Hummers] will soon be made in China.
So we’ve sent more money to the USA?
So much money, why didnt they just make their own brand?
So it seems that just from this small sample of comments that Chinese netizens aren’t really behind Sichuan Tengzhong buying Hummer.