The Ministry of Commerce has not yet received an application from Tengzhong Heavy Industrial Machinery to buy GM's Hummer brand, ministry spokesman Yao Jian said Thursday.
For many it's appropriate that Hummer means a horse that cannot be tamed in Chinese because they believe the bulky, gas-guzzling utility vehicle would not co-exist happily with Tengzhong's stable of other products.
"We are satisfied with the terms and conditions of the deal, so the answer is yes. We went through a competitive auction process, several parties were interested and Tengzhong came forward."
