On the afternoon of February 1st, Weichai Power Yangchai Company held an unveiling ceremony. 500 representatives of Yangchai Company gathered together to witness an exciting historical moment. The establishment of the new company is a new starting point for the development of Yangchai, and the alliance with the "strong hand" will gain more room for development.
On November 24th, the Yangzhou City Government and China's largest internal combustion engine manufacturer, Weichai Holding Group Co., Ltd., formally signed a strategic cooperation agreement. The signing of this strategic cooperation agreement will involve the integration of various advantageous resources and deep-seated cooperation to comprehensively improve the core competitiveness of the auto parts industry in Yangzhou, achieve the rapid expansion of Weichai Holding Group in the Yangtze River Delta region, and accelerate the Weichai Group. The construction of production bases for Yangzhou auto parts and ship power production will eventually achieve win-win cooperation with Yangzhou. On November 30, Weichai Power's Yangchai Company, which was restructured with Weichai Group, was formally registered and established, marking Yangchai's entry into a new historical development period. In the next three years or so, Yangchai will have the world leader in digestion and absorption. The two series of nine products of the horizontal Italian VM company have built a brand-new product platform.
Choosing Weichai, Yangzhou can use the technology, capital, team, and brand of Weichai to fully drive the development of the auto parts industry in Yangzhou and enhance the core competitiveness of the industry. According to the cooperation agreement, Weichai Group will speed up the development of road and non-road small-bore diesel engine business, marine power propulsion system business, special vehicle business and other auto parts business, etc. Weichai Group will increase the number of businesses according to the actual development of the project. We will invest funds to realize the rational allocation of new products and technology research and development and market resources, accelerate the construction of Weichai Group's Yangzhou auto parts and ship power manufacturing industry base, and reach a scale of 10 billion in the next 3-5 years.
Weichai Group
Established in 1946, Weichai Holding Group Co., Ltd. is a key enterprise supporting research, development, manufacture and sales of internal combustion engines. The Group owns 3 wholly-owned subsidiaries, 2 holding subsidiaries, 2 joint ventures, and 1 shareholding company. Among them, Weichai Power Co., Ltd., one of the holding subsidiaries, was listed on the Hong Kong Stock Exchange and the Shenzhen Stock Exchange in March 2004 and April 2007, respectively. Another subsidiary of the Group, Shandong Juli Co., Ltd., was listed on the Shenzhen Stock Exchange in April 2007. In 2008, Weichai Group ranked 106th, 46th, and 10th in the "Top 500 Chinese Enterprises," "China Top 500 Manufacturing Companies," and "China Top 500 Machinery Companies."
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