Future HUMMER owner says will keep Headquarters in Michigan
The Chinese manufacturer Sichuan Tengzhong Heavy Industrial Machinery Corp., whom many believe will be acquiring Hummer, will most likely place its headquarters in Michigan, Illinois. It is expected that the company would employ about 100 people at the headquarters to start. The headquarters would include design and engineering capability, product planning, purchasing, sales, service, marketing and financing. Sichuan Tengzhong is said to have considered putting the headquarters in South Carolina or Tennessee. One reason why the Chinese company has decided on Michigan is because the Michigan Economic Development Authority offered a $20.6 million state tax credit over 10 years. The purchase has not been made official because Sichuan Tengzhong, a truck and industrial equipment manufacturer, is not supported by Chinese regulators whom believe that the purchase is not a wise one because of that. Still, execs from the company are said to be working hard to close the deal with General Motors and they expect it to be completed “one day.” via Detroit News
Hydrogen fuel cell technology may have gotten a boost.