General Satisfied with "Selling Horse" Price, No Plan to Persuade the Chinese Government
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The Chinese phrase “Buy no sell fine†describes the relationship between Hummer’s old club and the new owner. However, General Motors President and CEO Han Desheng clearly conveyed such information in Shanghai on the 13th: “150 million yuan The price of the U.S. dollar has not yet been finalized. GM is more satisfied with the current bargaining power, but GM has no plan to contact the relevant authorities to discuss Hummer." This GM’s new leader’s simple and straightforward statement immediately broke the previous statement about his coming to China. Sichuan Tengzhong lobbying said that he only expressed optimism to the media about the prospects of Hummer. In a word, neither business partners nor the Chinese government are guilty. GM is only a seller. Things that are clear.
Hummer prices are not underestimated
In fact, the topic was elicited by Han Desheng’s Shanghai trip. Three days after GM signed an agreement with Tengzhong Heavy Industry, Han Desheng appeared in the Shanghai Jinmao Tower. Anybody with a mind will ask such questions: Is there a necessary link between the GM CEO's China bank and the agreement?
At this time, if Han Desheng did not say anything about the Hummer, it was obviously not a common practice. But what he said and how to say it was actually the first public relations topic left for this GM. As a result, South Korea's statement was not only expected by the media, but it was clearly unexpected. Han wisely cleared up the dispute with Hummer. "We and Tengzhong Company maintained a dialogue on relevant government approvals. As far as I know, They need to assume the responsibility for approval as buyers, but we will provide the greatest support. As far as I understand, they are confident and believe that this project should be approved."
The GM Lao Jianghu answered the questions of reporters present at the time in such clear language, which is embarrassing. Actually, not just GM, we saw similar scenes in most of the international sellers. GM used the facts to tell the Chinese companies how to deal with international rules of the game.
"The price of 150 million U.S. dollars is not the final result. We should say that we are satisfied with the results of Hummer's sale, because this is achieved through a relatively good bidding process and through negotiations." Han Desheng did not forget to use a more pragmatic approach. Expressed the view of the future of this project, “In the approval and implementation of the contract, in the adjustment of the power system and the update of the Hummer products, GM will provide help, and ultimately make the product meet the next-generation technical requirements is our responsibility. Is ready."
Absolute courtesy, and both international morale, but also has a considerable business negotiation mind, a common seat for buyers to say nothing, really nothing to say.
Regarding whether or not Tengzhong Heavy Industries Co., Ltd. took over the localization of Hummer, Han Desheng used the vocabulary of “very enthusiastic support for them.†“The integration of relevant businesses in the United States is what Tengzhong has to do. How to use this brand is also theirs. We will work hard to support them, especially with respect to the approval of the contract, the adjustment of the power system, etc. We will support them and follow-up technical improvements will support them.â€
In this case, the shrewd GM CEO did not forget to remind all journalists present that the purpose of his visit to China was to understand the business situation in China. During this time, he would contact the partners and government agencies, but he would not be involved. Hummer acquisitions. The motivation and purpose of his visit to China are very clear, and GM also hopes to pass such effective information.
Previously, General Motors and Sichuan Tengzhong Heavy Industry jointly announced on the 9th that the two sides signed a definitive agreement on the sale of the Hummer business under General Motors. The transaction must take effect after the approval of the Chinese and US regulatory agencies. After that, the Ministry of Commerce has already had the Ministry of Commerce. Officials said: "In the future, the approval of this project itself is not much suspense, and more problems lie in the handling of more details after Tengzhong took over."
GMC did not introduce plans
After GM’s success in “selling horsesâ€, the ownership of several other brands has become a new hot spot. Since GM had previously only been a SAIC partner in China, after the establishment of the new GM, the GM and FAW joint venture commercial vehicle companies are also officially Established. In this regard, General Manager of China, said Gan Wenwei, GM and SAIC have been very good cooperation, but SAIC has been a partner in commercial vehicles, GM cooperation with the limited space for development, so have a cooperation with FAW.
For industry rumors that General Motors will jointly develop the Indian market with SAIC, General Manager Luo Ruili of GM International Operations stated that GM and SAIC may have opportunities overseas, but there is currently no plan to announce which market to open up. Han Desheng also denied that GM's another brand, GMC, will be introduced to China, saying that Buick, Chevrolet, and Cadillac will all be introduced. The Chinese market will continue to adhere to a multi-brand strategy, but GMC has no plans to introduce it. GMC is a general business vehicle and tourer brand.
Han Desheng also revealed that Opel’s sale to Magna will end by the end of this week as soon as possible. Currently, the eight agreements that need to be signed will be communicated with the EU government and relevant industry associations. It will take a while for approval. He made it clear that since GM accounted for 35% of the shares, it was the largest shareholder. When GM sold, it had already talked with the acquirer. After the acquisition, it will respect the current distributors' layout.
For the industry’s speculation that the new GM will restart the IPO in the first half of next year, Han Desheng made it clear that the IPO will restart in the second half of the year. As for the timetable for the withdrawal of state-owned capital, Han Desheng believes that the government will not withdraw in the short term. "If the U.S. government wants to withdraw its state-owned capital, I think the key is to look at the return status of the entire economy. After the government withdraws its shares, we need to look at other investors. Because it involves the interests of many parties, these jobs will not be carried out in the short term. "He said.
Since the formal establishment of the new General Motors on July 10th, the time has been nearly 100 days. For future expectations, Han Desheng said that the new company has a healthier balance sheet, a more optimized cost structure, and a more streamlined US distribution. Business, brand, and vehicle platforms. "More importantly, we have launched a series of new successful models with high fuel economy in more than 90 days; at the same time, through a series of effective marketing activities, the new model will have fuel economy and excellent safety. Etc. effectively passed to consumers."
The same is true. After shaking off the burden of GM, it is already a light one. At present, for Han Desheng and his Chinese colleagues, the most important thing is to come up with better energy-saving models to comply with the changes in the Chinese market. As for Hummer’s China Fortune, Really China's Tengzhong needs trouble.