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Interview: Tengzhong faces challenge of reviving Hummer brand, U.S. experts
Xinhua News, June 10, 2009
by Jing Zhao Cesarone
CHICAGO, June 9, (Xinhua) -- Facing the double challenge of reviving the negatively-perceived Hummer brand and surviving the long global recession, Tengzhong, the Chinese company that is reported having reached a tentative agreement on purchase of General Motors (GM) Hummer brand, may have a rough road ahead, cautioned industrial experts...
Bill Russo, founder and president of Synergistics Limited, said "This deal does not help China achieve its policy objectives of consolidating down to 'Top 10' larger, stronger Chinese car companies. It also does not support the idea of developing smaller, more environmentally friendly cars."
Russo has extensive experience in the automotive and electronics industries. His viewpoints on the China automotive industry have been frequently published online and his viewpoints have aired on National Public Radio. He said "While the price paid for Hummer is unknown and may be quite low compared with what GM has invested, Sichuan Tengzhong is taking on a fair amount of operational and financial risk."