Weichai Reached Strategic Cooperation Agreement With BYD

Recently, Weichai and BYD signed a strategic cooperation agreement in ShenZhen. The two parties intend to use their respective advantages to establish a more comprehensive and in-depth strategic cooperation relationship in the field of new energy, jointly produce power batteries in Shandong, build a power battery R&D and manufacturing base, and continue to strengthen. The new energy industry chain, innovation chain, and value chain have made positive contributions to promoting the industrialization of new energy commercial vehicles in my country.
Weichai Power is the largest diesel engine manufacturer in China. Since 2010, Weichai has laid out new energy business in advance, and formulated a strategic goal of leading the development of the global industry in new energy business by 2030. Weichai Power has successively invested more than 4 billion yuan to strategically reorganize the Canadian Ballard hydrogen fuel cell, the British Ceres solid oxide fuel cell, and the Swiss flying air compressor, and developed the country's first hydrogen internal combustion engine heavy truck, with a comprehensive layout of pure electric, The three technology routes of hybrid power and hydrogen fuel cell are used to diversify the risks brought about by the uncertainty of industrial development with the investment strategy of the coexistence of multiple technology routes.