Weichai Power

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Not to be confused with Weichai Group, the parent company.
Not to be confused with Weichai (Chongqing) Automotive, the subsidiary.
Weichai Power Co., Ltd.
SEHK: 2338
SZSE: 000338
IndustryIndustrial machinery
Founded2002
Headquarters
Weifang, Shandong
,
China
Area served
Worldwide
Key people
Chairman: Tan Xuguang[1]
ProductsAutomotive parts
Diesel engines
Forklifts
Revenue$28.38 billion (2021)[1]
$1.334 billion (2021)[1]
Number of employees
81,600 (2021)[1]
ParentShandong Heavy Industry Group Co., Ltd.[2]
SubsidiariesMoteurs Baudouin
Websitewww.weichaipower.com

Weichai Power Co., Ltd is a developer and manufacturer of diesel engines with headquarters in Weifang, Shandong in the People's Republic of China. It also manufactures forklifts and non-diesel engine automotive parts.[3]

History[edit]

File:Weifang Diesel Engine Works.jpg
Weifang Diesel Engine Works, 1953

Weichai Power was founded on 23 December 2002.[3] Its shares began trading on the Hong Kong Stock Exchange in 2004[4] and the Shenzhen Stock Exchange in 2007.[5]

In 2009, Weichai bought French marine engine manufacturer Moteurs Baudouin.[2] In 2012, it agreed to buy a 25% stake in German forklift manufacturer KION Group for €738 million;[6] the stake grew to 38.25% by 2016.

File:Ferrari and Weichai.jpg
Launching of Weichai New logo, Ferrari, China, 2014

Weichai became the first Scuderia Ferrari sponsor from China in January 2013; the sponsorship was to end in 2016.[7]

The company appeared on the Fortune 500 list for the first time in 2021 as rank 425.[1][8]

Awards[edit]

  • 2007 China Quality Award[9]

References[edit]

  1. ^ a b c d e "Weichai Power". Fortune. 2021. Retrieved 7 March 2022.
  2. ^ a b Leung, Alison (9 February 2012). "China bulldozer maker bets on Ferretti to power global ambitions". Reuters. Retrieved 7 March 2022.
  3. ^ a b "Weichai Power". Forbes. 13 May 2021. Retrieved 6 March 2022.
  4. ^ "WEICHAI POWER CO. LTD. - H SHARES (2338)". HKEX. 7 March 2022. Retrieved 7 March 2022.
  5. ^ "Stocks". Shenzhen Stock Exchange. Retrieved 7 March 2022. 000338 WEICHAI POWER 2007-04-30 6,783,516,821 5,049,762,516 C Manufacturing
  6. ^ Taylor, Edward; Kröner, Andreas (31 August 2012). "China's Shandong takes stake in Germany's Kion". Reuters. Retrieved 7 March 2022.
  7. ^ "Weichai Power, new sponsor of the Scuderia". ferrari.com. 31 January 2013. Archived from the original on 23 March 2014. Retrieved 7 March 2022.
  8. ^ "Five Shandong-based companies make Fortune Global 500 list". China Daily. 3 August 2021. Retrieved 7 March 2022.
  9. ^ Wei, Frederick, ed. (13 December 2007). "Weichai Power Won Award". chinabuses.com. Retrieved 7 March 2022.
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