SAIC denies Hummer joint purchase
According to the Shanghai Daily, SAIC have reportedly denied an overture from Sichuan Tengzhong to jointly take on the Hummer purchase from SAIC’s partner, GM.
The Hummer purchase is currently up in the air with Tengzhong not yet getting approval from the Ministry of Commerce for investing over 100 million RMB into an overseas company. A Sichuan Tengzhong-SAIC alliance would give Tengzhong the legitamcy that they are now lacking as a car maker. Previously SAIC ‘rescued’ Chery by taking over a controlling share in them before Chery became a legal registered car producer with the central government, later Chery was able to buy back its shares and gain its own car producing license.
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What do you mean ‘Chery became a legal registered car producer with the central government’?
Is Chery state-controlled? Did it used to be? Is it privately owned?
State controlled. Chery was set up without authority from the central government, and SAIC came in to prevent it from being shut down, it eventually got its own production license.
i really like these cars
where can i get one of these cars looks great
chinese cars are great lets go