Weichai Power Co., Ltd.
|Headquarters||Weifang, Shandong, People's Republic of China|
|Chairman: Tan Xuguang|
Number of employees
|42,000 employés (2014)|
|Parent||Weichai Holding Group., Ltd.|
Weichai Power Co., Ltd (SEHK: 2338、SZSE: 000338) is a state-owned enterprise in the city of Weifang, Shandong Province, China which is 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 and its A share was listed on the Shanghai Stock Exchange in 2006. It is the first Hong Kong H share to be listed on China's A share market.
Weichai Power Co., Ltd. was founded in 2002, with Weichai Holding Group Co., Ltd. as the main sponsor. Both are highly correlated. 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", scientific supporting projects, and international cooperation plans. It also, 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:
- Shaanxi Heavy-duty Motor Co. Ltd. (陕西重型汽车有限公司)
- Shaanxi Fast Auto Drive Group Company (陕西法士特齿轮有限责任公司)
- Shaanxi HANDE Axle Co., Ltd.(陕西汉德车桥有限公司) which was jointly invested and built up by Weichai Power Co., Ltd. and Shaanxi Automobile Group Co., Ltd. in 2003.
- Weichai Power Yangzhou Diesel Engine Co., Ltd. (潍柴动力扬州柴油机有限责任公司), recombined with Weichai Power in 2009.
- Zhuzhou Gear Co., Ltd. (株洲齿轮有限责任公司)
- Zhuzhou Torch Spark Plugs Co., Ltd. (株洲湘火炬火花塞有限责任公司)
- Weichai (Chongqing) Automotive Co., Ltd. (潍柴（重庆）汽车有限公司), which is wholly owned by Weichai Power Co., Ltd. since 2012.
Weichai Power’s acquired, in 2009, a French company which designs and manufactures marine engines named Société Internationale des Moteurs Baudouin. 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.
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…
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.
- In 2007, the company won the national quality prize.
- In 2011, "WP10 / WP12 series heavy duty high speed engine and key technology" were awarded as a science and technology progress in machinery industry field in China.
- In 2013, the “Key technology and industrialization of heavy-duty and high-speed diesel engine” project won the second prize of the National Science and Technology Progress Award.
- Shandong Heavy Industry Group Co., Ltd.
- Weichai Holding Group Co., Ltd. Site Officiel
- Weichai.Tv Blog officiel et Chaîne Française
- Société Internationale des Moteurs Baudouin
- KION Group AG
- Linde Hydraulics Ltd.
- Shaanxi Automobile Group Co., Ltd.
- Shaanxi Fast Auto Drive Group Company
- Shaanxi HANDE Axle Co., Ltd.
- Weichai (Chongqing) Automotive Co., Ltd.
- Zhuzhou Torch Spark Plugs Co., Ltd.
- Zhuzhou Gear Co., Ltd.
- NOTICE OF 2003 ANNUAL GENERAL MEETING
- Weichai Power plans Shenzhen listing
- "Weichai Power Surges on Moteurs Baudouin Purchase (Update2)". Bloomberg. 23 February 2009.
- "Weichai Power, new sponsor of the Scuderia". ferrari.com. 31 January 2013.
- http://www.chinabuses.com/english/news/0712/13002.htm "Weichai Power Won Award" 12.13.2007