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Native name | 潍柴动力股份有限公司 |
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| SEHK: 2338 SZSE:000338 | |
| Industry | Industrial machinery |
| Founded | 2002; 23 years ago (2002) |
| Headquarters | , |
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 ofdiesel engines inWeifang,Shandong in thePeople's Republic of China. It also manufacturesforklifts and non-diesel engine automotive parts.[3]
Weichai Power was founded on 23 December 2002.[3] Its shares began trading on theHong Kong Stock Exchange in 2004[4] and theShenzhen Stock Exchange in 2007.[5]
In 2009, Weichai bought French marine engine manufacturerMoteurs Baudouin.[2] In 2012, it agreed to buy a 25% stake in German forklift manufacturerKION Group for€738 million;[6] the stake grew to 38.25% by 2016.
Weichai became the firstScuderia Ferrari sponsor from China in January 2013; the sponsorship was to end in 2016.[7]
The company appeared on theFortune 500 list for the first time in 2021, ranking 425th.[1][8]
Since 1999,Weichai Group has partnered itself withBosch, an engineering company based inGerlingen, Germany, to share research and development on technologies such asfuel cells andcommon rail fuel-injection systems. On November 3, 2023, they both signed a strategic cooperation agreement where they agreed to cooperate on the development of new technologies, such as high thermal efficiency diesel engines.[9]
In 2023 Weichai partnered withBYD, a Shenzhen-based[10]electric vehicle manufacturer and also the biggest electric vehicle manufacturer in the world. Both companies plan to develop new electric vehicle technology, as Weichai has planned since 2010 to focus on new energy options and has invested approximately $550 million in research and development of electric, hybrid and hydrogen fuel cell engines.[11]
In 2024 Weichai demonstrated the most efficient diesel engine in the world at the World Congress on Internal Combustion Engines inTianjin, China. This diesel engine has 53.09%thermal efficiency as verified byTechnischer Überwachungsverein, an international testing body. It is expected that the engine would perform with 14% better fuel efficiency than previous engines, which would reduce operating costs and reducecarbon footprint.[12]
000338 WEICHAI POWER 2007-04-30 6,783,516,821 5,049,762,516 C Manufacturing
 Constituents of theSZSE 100 Index | |
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