Established in 2002, Weichai Power Co., Ltd. was founded by the former Weifang Diesel Engine Factory as the main sponsor and jointly initiated by domestic and foreign investors. It is the first enterprise in China's internal combustion engine industry to be listed on the H-share market in Hong Kong, and is also the first enterprise to be listed on the H to A market in both places by way of merger and absorption through share swap. It owns Weichai Power Engine, Shaanxi Automobile Heavy Duty Truck, Weichai Lavo Intelligent Agriculture, Faster Transmission, Hande Axle, Torch Spark Plugs, and famous domestic and international brands such as KAO from Germany, Hydraulic Transmission from Germany, Dematic from the U.S., PSI from the U.S., Beaudoin from France, Ballard from Canada, etc. The company will realize an operating revenue of 215.69 billion yuan in 2024, and a net profit of 11.4 billion yuan from net attributable income.
The main business covers powertrain, commercial vehicles, agricultural equipment, intelligent logistics and other business segments, with molecular companies in Europe, North America, Asia and other regions, and products are exported to more than 150 countries and regions. The company has the world's largest sales of heavy-duty engines and heavy-duty transmissions, the world's largest sales of industrial forklifts, the largest sales of agricultural equipment in China, and the largest sales of heavy-duty trucks in China. The company has national innovation platforms such as National Key Laboratory of Internal Combustion Engine and Powertrain, National Fuel Cell Technology Innovation Center, National Commercial Vehicle Powertrain Assembly Engineering and Technology Research Center, National Industrial Design Center, National Internal Combustion Engine Quality Inspection and Testing Center, National Measurement and Testing Center for the Internal Combustion Engine Industry, and Nationally Accredited Enterprise Technology Center, etc., as well as research bases such as Postdoctoral Workstations and other research bases. It also has research bases such as “postdoctoral workstation”, and has set up ten cutting-edge innovation centers in many places around the world, establishing a global collaborative R&D system. The company has won 9 national scientific and technological awards, including the first prize of National Scientific and Technological Progress (FY2018).
