Word: hummers
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...Hummer brand, however, could be on the road to extinction if GM cannot soon finish a deal with China's Sichuan Tengzhong Heavy Industrial Machinery, the only bidder for the controversial brand. GM announced plans to spin it off while reorganizing under bankruptcy protection this past summer. (See the 50 worst cars of all time...
...spokesman Chris Preuss acknowledges GM won't complete the sale of Hummer by the end of September as it originally planned, but it still hopes to finish the negotiations soon, he says...
...tentative plan is for GM to continue building Hummer vehicles through a transitional period. The length of the transition is one of the unresolved issues. Longer term, Hummer is hoping to replace its gas guzzlers with new models that use lighter-weight materials and advanced power trains, and maybe even hybrid vehicles. The plan is to continue building Hummers in the U.S., not in China where the prevailing wages, $12 to $25 per day, are significantly lower...
...Hummer H3 is built at a GM plant in Shreveport, La., which is scheduled to close sometime next year, while the hulking H2 is made at a plant in Mishawaka, Ind., belonging to AM General, which also builds the Humvee for the U.S. Department of Defense...
...staff still assigned to the Hummer continue to work at turning the cast-off brand into an independent company that could continue to sell vehicles around the world. They have lined up a $20.4 million grant from the state of Michigan to put its headquarters in or around Detroit. The grant, however, is contingent on the completion of the deal with Tengzhong Heavy Industrial Machinery, according to Michigan state officials...