Founded in 1946, Weichai has over 80,000 employees worldwide. With the annual revenue of more than 230 billion RMB in 2018, Weichai ranks the 87th among China’s top 500 enterprises, the 27th 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 six business segments of powertrain, intelligent logistics, commercial vehicle, construction machinery, luxury yacht, and finance & after-services. Weichai Group has four listing companies which have five stocks: Weichai Power（2338HK, 000338SZ）, Weichai Heavy Machinery（000880SZ）， Asiastar Bus（600213SH）and KION Group（DE000KGX8881）. 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 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 US, Germany, and Japan, 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 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, UK Sirius Power Holdings Co., Ltd, a solid oxide fuel cell supplier, and Canada Ballard Power Systems Co., Ltd, a hydrogen fuel cell supplier, 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. For the future, Weichai launched its 2020-2030 strategy: by 2020, traditional business will surpass world-class level. By 2030, new energy business will lead the global industry development. By 2025, the revenue will reach 100 billion dollars, and will reach 1 trillion RMB by 2030. Take a lead in becoming a terascale enterprise, and become a respectable world top 500 international enterprise with continuously rising competitiveness.