The Hummer will not be a Chinese product.
Sense has broken out and it is reported that China’s planning agency is likely to reject a Chinese company’s bid to acquire General Motors’s Hummer unit.
State radio reported this and said that in part it is because its gas-guzzling vehicles conflict with Beijing’s conservation goals. Damn right. And damn good as well.
China National Radio also said the National Development and Reform Commission is also likely to say Sichuan Tengzhong Heavy Industrial Machinery, a maker of construction machinery, lacks expertise to run Hummer.
Tengzhong said it has yet to reach a definitive agreement with GM, which the company said previously was required to make a formal request for government approval of the deal.
A company statement intelligently said, "Some people may have views and speculation but the Chinese government has a process that we respect.
We do not yet have a definitive agreement, but are developing our proposals with GM and Hummer and we will continue to engage with the appropriate authorities in an appropriate manner."
Employees who answered the phone at the NDRC referred questions to its foreign affairs office, where calls were not answered.
NineMSN Money picking up from reports of the broadcast added the comment that the Chinese government is trying to promote conservation and use of more fuel-efficient vehicles.