Chinese automaker to buy GM Hummer? Not Yet!
SICHUAN Automobile Industry Group, a small sport-utility vehicle maker in central China, denied a report saying it is in talks to buy General Motors’ Hummer.
The car maker said it has no interest in buying overseas brands and it would focus on its own development.
Earlier Bloomberg News reported Sichuan Auto is considering buying GM’s Hummer line for US$500 million after the United States car maker announced the SUV brand was for sale.
Chengdu-based Sichuan Auto, a privately held company, sells vehicles under the “Yema” or “Wild Horse” brand name.
Last year, state-owned SUV maker Hunan Changfeng Motor Co was also reportedly pursuing a possible acquisition of the Hummer line, but later withdrew its offer. Mid-sized auto maker Geely Automobile Holdings denied rumors it was considering buying Ford Motor Co’s Volvo unit.
