Hummer Deal With the Chinese May Not Happen
By Chris Weiss
Everybody’s (least) favorite maker of giant SUVs has been on the deal table between GM and Sichuan Tengzhong Heavy Industrial Machinery since October. The deal is being held up by Chinese regulators who are considered to be less and less likely to give it the green light. Apparently, China decided to begin caring about the environment, and regulators are uneasy about allowing what is essentially the face of the gas-guzzling, environment-be-damned sector of the automotive industry into the country.
Tengzhong has shifted its focus toward making the purchase through an off-shore investment arm, thereby dancing around the need for Chinese regulation. There is currently a deadline set for February 28. [via AutoBlog]
