View source for Company:Weichai Power

{{Short description|Chinese automotive supplying company}}
{{Infobox company
| name = Weichai Power Co., Ltd.
| logo = Weichai Logo Transparent3.png
| logo_size = 
| image =
| image_size = 250px
| image_caption = Weichai headquarters in Weifang, {{wipe|China}}
| type = 
| traded_as = {{sehk|2338}}<br />{{szse|000338}}
| genre = 
| foundation = 2002
| founder = 
| location_city = Weifang, Shandong
| location_country = {{wipe|China}}
| location = 
| key_people = [[Social:Chairman|Chairman]]: Tan Xuguang<ref name="fortune500_2021"/>
| area_served = Worldwide
| industry = Industrial machinery
| products = Automotive parts<br/>Diesel engines<br />Forklifts
| services = 
| revenue = $28.38 billion (2021)<ref name="fortune500_2021"/>
| operating_income = 
| net_income = $1.334 billion (2021)<ref name="fortune500_2021"/>
| num_employees = 81,600 (2021)<ref name="fortune500_2021"/>
| parent = Shandong Heavy Industry Group Co., Ltd.<ref name="reuters_ferretti">{{cite web |last1=Leung |first1=Alison |title=China bulldozer maker bets on Ferretti to power global ambitions |url=https://www.reuters.com/article/shandongheavy-ferretti-idUSL3E8CD0PY20120209 |website=Reuters |date=9 February 2012 |access-date=7 March 2022}}</ref>
| divisions = 
| subsid = [[Company:Moteurs Baudouin|Moteurs Baudouin]]
| owner = 
| slogan = 
| homepage = [https://www.weichaipower.com/ www.weichaipower.com]
}}
'''Weichai Power Co., Ltd.''' is a Chinese developer and manufacturer of diesel engines in Weifang, Shandong in the People's Republic of China. It also manufactures [[Engineering:Forklift|forklift]]s and non-diesel engine automotive parts.<ref name="forbes">{{cite web |title=Weichai Power |url=https://www.forbes.com/companies/weichai-power/ |website=Forbes |date=13 May 2021 |access-date=6 March 2022}}</ref>

==History==
[[File:Weifang Diesel Engine Works.jpg|thumb|left|Weifang Diesel Engine Works, 1953]]
Weichai Power was founded on 23 December 2002.<ref name="forbes"/> Its shares began trading on the Hong Kong Stock Exchange in 2004<ref>{{cite web |title=WEICHAI POWER CO. LTD. - H SHARES (2338) |url=https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=2338&sc_lang=en |website=HKEX |date=7 March 2022 |access-date=7 March 2022}}</ref> and the Shenzhen Stock Exchange in 2007.<ref>{{cite web|title=Stocks |url=http://www.szse.cn/English/siteMarketData/siteMarketDatas/stocks/index.html |website=Shenzhen Stock Exchange |access-date=7 March 2022 |quote=000338  WEICHAI POWER  2007-04-30  6,783,516,821  5,049,762,516  C Manufacturing}}</ref>

In 2009, Weichai bought French marine engine manufacturer [[Company:Moteurs Baudouin|Moteurs Baudouin]].<ref name="reuters_ferretti"/> In 2012, it agreed to buy a 25% stake in German forklift manufacturer KION Group for {{euro|738 million}};<ref name="reuters_kion">{{cite web |last1=Taylor |first1=Edward |last2=Kröner |first2=Andreas |title=China's Shandong takes stake in Germany's Kion |url=https://www.reuters.com/article/us-weichai-kion-idINBRE87U0CE20120831 |website=Reuters |date=31 August 2012 |access-date=7 March 2022}}</ref> the stake grew to 38.25% by 2016.

[[File:Ferrari and Weichai.jpg|thumbnail|right|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.<ref>{{cite web |title=Weichai Power, new sponsor of the Scuderia |url=http://formula1.ferrari.com/news/weichai-power-sponsor-scuderia |date=31 January 2013 |website=ferrari.com |archive-url=https://web.archive.org/web/20140323133345/http://formula1.ferrari.com/news/weichai-power-sponsor-scuderia |archive-date=23 March 2014 |access-date=7 March 2022}}</ref>

The company appeared on the {{wipe|Fortune 500}} list for the first time in 2021, ranked 425.<ref name="fortune500_2021">{{cite web |title=Weichai Power |url=https://fortune.com/company/weichai-power/global500/ |website=Fortune |date=2021 |access-date=7 March 2022}}</ref><ref>{{cite web |title=Five Shandong-based companies make Fortune Global 500 list |url=http://shandong.chinadaily.com.cn/2021-08/03/c_648514.htm |website=China Daily |date=3 August 2021 |access-date=7 March 2022}}</ref>

Weichai has partnered with [[Company:Bosch|Bosh]] an engineering company based in Gerlingen, {{wipe|Germany}} for strategic developed of diesel engine since 1999 both companies signed agreement to share [[Research and development|research and development]] on new technology engines like [[Physics:Fuel cell|fuel cell]] and alternative fuel.<ref>{{Cite web |last=dhruv |first=shivani |date=2023-11-07 |title=China's Weichai and Bosch sign innovation agreement |url=https://technicalreviewmiddleeast.com/manufacturing/innovations/chinas-weichai-and-bosch-sign-innovation-agreement |access-date=2024-01-27 |website=technicalreviewmiddleeast.com |language=en-gb}}</ref>

In 2023 Weichai and BYD a Xi'an based [[Engineering:Electric vehicle|electric vehicle]] manufacturer and also the biggest electric vehicle manufacturer in the world. Both companies plan to develop new electric vehicle technology as Weichai planned since 2010 to focus on new energy options, since then the company has invested approximately $550 million in research and development of new energy powers like electric, hybrid and hydrogen fuel cell.<ref>{{Cite web |last=Pandaily |date=2023-05-15 |title=BYD Partners with A Chinese Diesel Engine Manufacturer |url=https://pandaily.com/byd-partners-with-a-chinese-diesel-engine-manufacturer/ |access-date=2024-01-27 |website=Pandaily |language=en-US}}</ref>

==Awards==
* 2007 China Quality Award<ref>{{cite web |editor-last1=Wei |editor-first1=Frederick |title=Weichai Power Won Award |url=http://www.chinabuses.com/english/news/0712/13002.htm |website=chinabuses.com |date=13 December 2007 |access-date=7 March 2022}}</ref>

{{clear}}

==References==
{{Reflist|colwidth=30em}}


[[Category:Automotive transmission makers]]
[[Category:Companies (Engineering)]]
[[Category:Companies]]

{{Sourceattribution|Weichai Power}}