This article contains content that is written like an advertisement. Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. (October 2015) (Learn how and when to remove this template message)
Weichai Power Co., Ltd.
SEHK: 2338
SZSE: 000338
IndustryIndustrial machinery
Founded2002
Headquarters
Weifang, Shandong
,
China
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]
ParentShandong Heavy Industry Group Co., Ltd.[2]
SubsidiariesMoteurs Baudouin
Websitewww.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 also manufactures forklifts and non-diesel engine automotive parts.[3]

History

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

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 Bosh an engineering company based in Gerlingen, Germany for strategic developed 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

References

  1. ^ a b c d e "Weichai Power". Fortune. 2021. Retrieved 7 March 2022.
  2. ^ a b Leung, Alison (9 February 2012). "China bulldozer maker bets on Ferretti to power global ambitions". Reuters. Retrieved 7 March 2022.
  3. ^ a b "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.
Categories