China says Hummer paperwork not submitted yet

Last week, it was reported that General Motors had signed a definitive agreement
to sell Hummer to Chinese machinery manufacturer Tengzhong. The Chinese company
and its partner in the deal, Lumena Resources Corp., would pay $150 million and
receive Hummer and its intellectual property, ownership of U.S. franchise
agreements, and manufacturing, business, and component assistance during a four-
or five-year transition period.





The questions being raised now concern what is happening on the other side of
the Pacific. The Chinese Commerce Ministry reportedly hasn't received
Tengzhong's application to officially bring Hummer home, which has led observers
to wonder if there will be a holdup or reversal of the deal. According to a
Hummer representative, however...





Tengzhong had to finalize the deal with GM before it could present it for
approval to the Chinese authorities:



The closing of the transaction is subject to customary closing conditions and
regulatory approvals and/or review by agencies in China and the U.S. Tengzhong
has started communicating with the relevant regulatory bodies and will continue
to support the application process in accordance with the requirements. Formal
engagement was only able to begin with the signing of the definitive agreement.





If all goes well, Tengzhong hopes to
have the
deal closed by early 2010.




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Mitsuoka to offer unique rental cars in Japan and China

Mitsuoka, the Japanese car company whose mission seems to be hoarding all the ugly in the entire world and using it to design automobiles, will expand into Japan's rental car market and offer its luxury range in China. Japanese drivers will be able to rent the Orochi for ¥25,000 ($279 US) from 10 a.m. to 7 p.m., or for three whole days for ¥45,000 ($501 US). They can also sport the Himiko for ¥20,000 ($223 US) for those nine hours, or ¥36,000 ($401 US) for 72 hours.





The sea monster-faced Orochi will also spearhead Mitsuoka's charge into China. The company plans to display the car at next year's Beijing Auto Show, and to open dealerships in Beijing, Shanghai and Guangzhou. We know the Chinese have occasionally fascinating taste in car design, but we can't wait to see how they receive the Orochi. Mitsuoka wants to move 35 units in its first year, and as if its looks weren't queer enough, the car is expected to cost 50% more in China than it does in Japan, where it will already set you back ¥9,345,000 ($87,287 USD). Any takers?





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