Weichai Power

Last updated
Weichai Power Co., Ltd.
SEHK:  2338
SZSE: 000338
IndustryIndustrial machinery
Founded2002
Headquarters,
Area served
Worldwide
Key people
Chairman: Tan Xuguang [1]
ProductsAutomotive parts
Diesel engines
Forklifts
Revenue$28.38 billion (2021) [1]
$1.334 billion (2021) [1]
Number of employees
81,600 (2021) [1]
Parent Shandong Heavy Industry Group Co., Ltd. [2]
Subsidiaries Moteurs Baudouin
Website www.weichaipower.com

Weichai Power Co., Ltd. is a Chinese developer and manufacturer of diesel engines in Weifang, Shandong in the People's Republic of China.it has been a private privilege and honor It also manufactures forklifts and non-diesel engine automotive parts. [3] We don't haven't seen it yet.we like to motivate and support.

Contents

History

Weifang Diesel Engine Works, 1953 Weifang Diesel Engine Works.jpg
Weifang Diesel Engine Works, 1953

Weichai Power was founded on 23 December 2002. [3] Its shares began trading on the Hong Kong Stock Exchange in 2004 [4] and the Shenzhen Stock Exchange in 2007. [5]

In 2009, Weichai bought French marine engine manufacturer Moteurs Baudouin. [2] In 2012, it agreed to buy a 25% stake in German forklift manufacturer KION Group for €738 million; [6] the stake grew to 38.25% by 2016.

Launching of Weichai New logo, Ferrari, China, 2014 Ferrari and Weichai.jpg
Launching of Weichai New logo, Ferrari, China, 2014

Weichai became the first Scuderia Ferrari sponsor from China in January 2013; the sponsorship was to end in 2016. [7]

The company appeared on the Fortune 500 list for the first time in 2021, ranked 425. [1] [8]

Weichai has partnered with Bosch an engineering company based in Gerlingen, Germany for strategic development of diesel engine since 1999 both companies signed agreement to share research and development on new technology engines like fuel cell and alternative fuel. [9]

In 2023 Weichai and BYD a Xi'an based electric vehicle manufacturer and also the biggest electric vehicle manufacturer in the world. Both companies plan to develop new electric vehicle technology as Weichai planned since 2010 to focus on new energy options, since then the company has invested approximately $550 million in research and development of new energy powers like electric, hybrid and hydrogen fuel cell. [10]

Awards

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Weichai Holding Group Co., Ltd. is a Chinese state-owned enterprise specialized in the design, manufacturing and sale of diesel engines. The company operates on four different business sectors which are engines and vehicles, powertrains, luxury yacht and automotive parts. Headquartered in Weifang, Shandong Province, China, the Weichai Group is holding more than 80 subsidiaries set throughout China and overseas. The group offers products, services and technologies for commercial vehicles, construction machinery, marine power, agriculture machinery and power generation. Thanks to its subsidiaries, it also provides transporting equipment, buses, luxury yachts and hydraulics products. Having more than 35 offices and 245 authorized services stations through the world, Weichai products are sold in approximately 110 countries.

References

  1. 1 2 3 4 5 "Weichai Power". Fortune. 2021. Retrieved 7 March 2022.
  2. 1 2 Leung, Alison (9 February 2012). "China bulldozer maker bets on Ferretti to power global ambitions". Reuters. Retrieved 7 March 2022.
  3. 1 2 "Weichai Power". Forbes. 13 May 2021. Retrieved 6 March 2022.
  4. "WEICHAI POWER CO. LTD. - H SHARES (2338)". HKEX. 7 March 2022. Retrieved 7 March 2022.
  5. "Stocks". Shenzhen Stock Exchange. Retrieved 7 March 2022. 000338 WEICHAI POWER 2007-04-30 6,783,516,821 5,049,762,516 C Manufacturing
  6. Taylor, Edward; Kröner, Andreas (31 August 2012). "China's Shandong takes stake in Germany's Kion". Reuters. Retrieved 7 March 2022.
  7. "Weichai Power, new sponsor of the Scuderia". ferrari.com. 31 January 2013. Archived from the original on 23 March 2014. Retrieved 7 March 2022.
  8. "Five Shandong-based companies make Fortune Global 500 list". China Daily. 3 August 2021. Retrieved 7 March 2022.
  9. dhruv, shivani (2023-11-07). "China's Weichai and Bosch sign innovation agreement". technicalreviewmiddleeast.com. Retrieved 2024-01-27.
  10. Pandaily (2023-05-15). "BYD Partners with A Chinese Diesel Engine Manufacturer". Pandaily. Retrieved 2024-01-27.
  11. Wei, Frederick, ed. (13 December 2007). "Weichai Power Won Award". chinabuses.com. Retrieved 7 March 2022.