Founded in 1946, Weichai has over 90,000 employees worldwide. With the annual revenue of more than 260 billion RMB in 2019, Weichai ranks the 83th among China’s top 500 enterprises, the 23th among China’s top 500 manufacturing enterprises, and the 2nd among China’s machinery industry top 100 enterprises.
Weichai is a multi-field and multi-industry international group which owns powertrain, vehicle, construction machinery, intelligent logistics, agricultural equipment, marine transportation equipment and other business segments. The subsidiaries of Weichai Group spread all over Europe, North America, Asia, and other regions, and its products are exported to more than 110 countries and regions. Weichai Group has 9 stocks from 7 listing companies: Weichai Power (2338.HK; 000338.SZ), Weichai Heavy Machinery（000880.SZ）， Asiastar Bus （600213.SH）, and KION Group (KGX.F).
Weichai pays high attention to science and technology innovation, it owns State Key Laboratory of Engine Reliability, National Engineering Technology Research Center for Commercial Vehicle’s Powertrain, National Innovation Strategic Alliance for New Energy Power System Industry of Commercial Vehicles, National Professional Makers’ Space and other state-level R&D platforms. It has established “Academician Workstation”, “Post-doctoral Workstation” and other research bases, as well as State Intelligent Manufacturing Demonstration Base. It has also built R&D centers in Weifang, Shanghai, Xi’an, Chongqing, Yangzhou, etc., established cutting-edge technology innovation centers in many places around the world, and set up global collaborative R&D platform to make sure that the technology stays at global leading level.
Weichai adheres to the international development strategy and has created a synergistic industrial layout around the world. In 2004, after being listed in the Hong Kong stock market, Weichai Power became the first internal combustion engine company listed in Hong Kong stock market, which marked Weichai stepping onto the road of capital internationalization. In 2005, Weichai Power purchased Torch Group and built a golden industry chain for heavy trucks (Weichai engine + Fast transmission + Hande axle + Shacman heavy truck). Afterwards, through stock-for-stock with Torch Group, Weichai returned to mainland stock market from Hong Kong, which created a “Weichai model” in capital market. Since 2009, Weichai has successively acquired Baudouin, a French engine company with a history of 100 years; strategically reorganized Ferretti Group, a luxury Italy yacht manufacturer; and strategically cooperated with KION Group, a German industrial forklift and service provider; acquired Linde Hydraulics and realized localization; supported KION Group to acquire Dematic, an automatic logistics provider; strategically invested in PSI, an alternative fuel power system provider, Ceres Power Holdings Co., Ltd. in U.K., a solid oxide fuel cell supplier, and Ballard Power Systems Co., Ltd. IN Canada, a hydrogen fuel cell supplier, Strategically reorganized of German ODS and Austria VDS, to realize global business presence and balanced development. At the same time, through technology exportation and production cooperation, Weichai has established production bases in India and other places to achieve localized manufacturing.
During the rapid development, Weichai has always fulfilled its social responsibility by actively participating in social welfare activities and charity. It contributed to volunteer service, poverty alleviation, disaster relief, and education donation. Weichai actively advocated energy conservation, emission reduction, and green production, vigorously promoted technology upgrading, cooperated with the upstream and downstream of the industrial chain to realize mutual benefit and win-win, and shared development results with the society.
Weichai’s rapid development has received high affirmation from the society, and it has successively won “National Civilized Units”, “National Advanced Grass-root Party Organization”, “Typical Enterprise of Independent Innovation”, “National Innovation Enterprise”, “China Quality Award”, “China Trademark Gold Award • Trademark Innovation Award”, “China Industrial Award”, “National Demonstration Base of Enterprise Culture “, “National Quality Award” and other honorary titles. Weichai Power’s project “Key Technologies and Applications of Heavy-duty Commercial Vehicle Powertrain” has won the first prize of National Science and Technology Progress Award in 2018.
Weichai takes “Green Power, International Weichai” as its mission, takes “customers’ maximum satisfaction” as its aim, and has formed unique enterprise culture. Weichai’s strategy: The traditional business shall remain a world-class level by 2025, and the new energy business shall lead the development of the global industry by 2030. Achieve revenue of 100 billion US dollars by 2025, and revenue of 1 trillion RMB by 2030; The core business of each main segments shall enter the top three in the world. The Company shall rank among the top 150 of the world’s top 500, and grow into a well-respected multinational group of intelligent industrial equipment.