Weichai Power Co., Ltd.

Weichai Power Co., Ltd.
State-owned enterprise
Traded as SEHK: 2338
SZSE: 000338
Industry Automotive
Founded 2002
Headquarters Weifang, Shandong, People's Republic of China
Area served
 Worldwide
Key people
 Chairman: Tan Xuguang
Products Diesel engines
Powertrains
Transmission (mechanics)
Axles
Power generation
Vehicles
Hydraulics products
Number of employees
 42,000 employés (2014)
Parent

Shandong Heavy Industry

Weichai Holding Group., Ltd.
Subsidiaries
Website www.weichai.com

Weichai Power Co., Ltd is a Chinese state-owned enterprise in Weifang, Shandong province, specialised in the research and development, manufacturing and sale of diesel engines. Its products are used in vehicles, marine vessels and power generators.

Weichai's H share was listed on the Hong Kong Stock Exchange in 2004[1] and its A share was listed on the Shanghai Stock Exchange in 2006.[2]

History

Weichai headquarters, Weifang, China, 2014
Weifang Diesel Engine Works, 1953

Weichai Power Co., Ltd. was founded in 2002,[3] with Weichai Holding Group Co., Ltd. as the main sponsor. Weichai Power has built different industrial bases: for all series power (Weifang), for heavy-duty vehicle and powertrain (Xi’an), for big-power engine and light-duty vehicle (Chongqing), and for automobile electronics and parts (Yangzhou). The company owns several R&D centers around the world (China, United State, Europe…).

Regarding Research and Development, Weichai Power has been involved into 22 national "863 project". It achieved 1437 product and technology patent licenses, and participated in establishing around 45 industry and national standards.

In the recent years, Weichai Power has introduced several whole series of automotive diesel engines which met National IV and National V standards. Also, the company independently developed an Electric Control ECU which has equipped CNG engines and the WP13 engine for heavy-duty commercial trucks.

Brands and Acquisitions

Weichai Power owns several Chinese brands:

Weichai Power’s acquired, in 2009, a French company which designs and manufactures marine engines named Société Internationale des Moteurs Baudouin.[4] In 2012, the company signed a strategic cooperation agreement with the KION Group, a German company, and Linde Hydraulics, its forklift truck manufacturer and hydraulic technology subsidiary.[5]

Businesses

Weichai Power works in four different sectors: powertrain (engines, transmissions and axles), vehicle engines, hydraulic products and auto parts. Weichai Power focuses on engines but also on other parts as transmissions, axles, or generating sets for different applications: high-speed light-duty engines, high-speed medium-duty engines, high-speed heavy-duty engines, medium-speed diesel engines, low-speed diesel engines. The main targeted markets include trucks, buses, construction machinery, marine power, power generation, and agriculture machinery… Also, and thanks to its subsidiaries, Linde Hydraulics, Torch Sparks Plugs, Zhuzhou Gear, etc., Weichai Power provides different auto parts including hydraulic parts, spark plugs, gears, piston pins, auto lamps…

Sponsorship

Launching of Weichai New logo, Ferrari, China, 2014

Weichai Power was announced as a new partner of Scuderia Ferrari on January 2013. Weichai Power is the first Chinese company to sponsor Ferrari, and one of the few Chinese companies to sponsor Formula 1. The sponsorship contract has been signed for four years, ending by 2016.[6]

National Awards

See also

External links

References

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