Update 1: Has Hummer Sale Hit a Great Wall in China?

Update #1 June-26-2009 02:00 PDT:

Hummer spokesman Nick Richards told PickupTrucks.com this afternoon that GM is still moving forward with its plan to sell Hummer to Sichuan Tengzhong and there are no Chinese government obstacles in the way.

"The BBC report is incorrect," said Richards. "The [China National Radio] reporter quoted by the BBC was speculating about the sale. It's not an official statement from the Chinese government."

-----

The BBC is reporting that state-owned China National Radio says that purchase of Hummer by heavy-equipment maker Sichuan Tengzhong will be blocked by Chinese authorities because of environmental and business concerns.

Sichuan Tengzhong disputes the accuracy of the radio report.

"The fact that it is from an article from a state media organization does not mean it is government policy," the company said in a statement.

Tengzhong needs support from three different Chinese government agencies to complete the purchase, governing overseas investment, economic planning and China's tight controls on foreign exchange.

[Source: BBC News]