Tengzhong mulls new Hummer strategy

Tengzhong could use an offshore vehicle to buy General Motor's (GM) Hummer brand if it fails to win Chinese regulatory approval for the ambitious but controversial plan that has met with cooling government appetite.

Machinery maker Sichuan Tengzhong Heavy Industrial Machinery Co, with no experience in the auto industry, had started communicating with the regulatory bodies after closing the deal with GM in October 2009.

The partners had to push back the deadline of the deal to the end of February from a previous date of Jan 31.