Company:Weichai Power
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| Industry | Industrial machinery |
| Founded | 2002 |
| Headquarters | Weifang, Shandong , |
Area served | Worldwide |
Key people | Chairman: Tan Xuguang[1] |
| Products | Automotive 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 also manufactures forklifts and non-diesel engine automotive parts.[3]
History
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.
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
- 2007 China Quality Award[11]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "Weichai Power". 2021. https://fortune.com/company/weichai-power/global500/.
- ↑ 2.0 2.1 Leung, Alison (9 February 2012). "China bulldozer maker bets on Ferretti to power global ambitions". https://www.reuters.com/article/shandongheavy-ferretti-idUSL3E8CD0PY20120209.
- ↑ 3.0 3.1 "Weichai Power". 13 May 2021. https://www.forbes.com/companies/weichai-power/.
- ↑ "WEICHAI POWER CO. LTD. - H SHARES (2338)". 7 March 2022. https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=2338&sc_lang=en.
- ↑ "Stocks". http://www.szse.cn/English/siteMarketData/siteMarketDatas/stocks/index.html. "000338 WEICHAI POWER 2007-04-30 6,783,516,821 5,049,762,516 C Manufacturing"
- ↑ Taylor, Edward; Kröner, Andreas (31 August 2012). "China's Shandong takes stake in Germany's Kion". https://www.reuters.com/article/us-weichai-kion-idINBRE87U0CE20120831.
- ↑ "Weichai Power, new sponsor of the Scuderia". 31 January 2013. http://formula1.ferrari.com/news/weichai-power-sponsor-scuderia.
- ↑ "Five Shandong-based companies make Fortune Global 500 list". 3 August 2021. http://shandong.chinadaily.com.cn/2021-08/03/c_648514.htm.
- ↑ dhruv, shivani (2023-11-07). "China's Weichai and Bosch sign innovation agreement" (in en-gb). https://technicalreviewmiddleeast.com/manufacturing/innovations/chinas-weichai-and-bosch-sign-innovation-agreement.
- ↑ Pandaily (2023-05-15). "BYD Partners with A Chinese Diesel Engine Manufacturer" (in en-US). https://pandaily.com/byd-partners-with-a-chinese-diesel-engine-manufacturer/.
- ↑ "Weichai Power Won Award". 13 December 2007. http://www.chinabuses.com/english/news/0712/13002.htm.
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