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Weichai Power

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Weichai Power Co., Ltd.
Company typeState-owned enterprise
SEHK: 2338
SZSE: 000338
IndustryAutomotive
Founded2002
Headquarters
Weifang, Shandong
,
People's Republic of China
Area served
Worldwide
Key people
Chairman: Tan Xuguang
ProductsDiesel engines
Powertrains
Transmission (mechanics)
Axles
Power generation
Vehicles
Hydraulics products
Number of employees
42,000 employés (2014)
ParentShandong Heavy Industry Weichai Holding Group., Ltd.
Subsidiaries
Subsidiary List
Websitewww.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

File:Current Headquarters.jpg
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:

  • 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.[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

  • In 2007: National quality prize.[7]
  • 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: “Key technology and industrialization of heavy-duty and high-speed diesel engine” project: Second prize of the National Science and Technology Progress Award.

See also

References

  1. ^ NOTICE OF 2003 ANNUAL GENERAL MEETING
  2. ^ Weichai Power plans Shenzhen listing
  3. ^ http://en.weichai.com/wmdgs/wmdls/2000_2010/201401/t20140109_1793.htm
  4. ^ "Weichai Power Surges on Moteurs Baudouin Purchase (Update2)". Bloomberg. 23 February 2009.
  5. ^ https://www.youtube.com/watch?v=mJmX7dEzyaw
  6. ^ "Weichai Power, new sponsor of the Scuderia". ferrari.com. 31 January 2013.
  7. ^ http://www.chinabuses.com/english/news/0712/13002.htm "Weichai Power Won Award" 12.13.2007
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