Weichai Power Co., Ltd is a developer and manufacturer of

diesel engine The diesel engine, named after Rudolf Diesel, is an internal combustion engine in which ignition of the fuel is caused by the elevated temperature of the air in the cylinder due to mechanical compression; thus, the diesel engine is a so-call ...

s with headquarters in

Weifang Weifang () is a prefecture-level city in central Shandong province, People's Republic of China. The city borders Dongying to the northwest, Zibo to the west, Linyi to the southwest, Rizhao to the south, Qingdao to the east, and looks out to the L ...

Shandong Shandong ( , ; ; alternately romanized as Shantung) is a coastal province of the People's Republic of China and is part of the East China region. Shandong has played a major role in Chinese history since the beginning of Chinese civilizati ...

in the

People's Republic of China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

. It also manufactures

forklift A forklift (also called lift truck, jitney, hi-lo, fork truck, fork hoist, and forklift truck) is a powered industrial truck used to lift and move materials over short distances. The forklift was developed in the early 20th century by various c ...

s and non-diesel engine automotive parts.

History

Weichai Power was founded on 23 December 2002. Its shares began trading on the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is repor ...

in 2004 and the

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

in 2007. In 2009, Weichai bought French marine engine manufacturer Moteurs Baudouin. In 2012, it agreed to buy a 25% stake in German forklift manufacturer

KION Group Kion Group AG (styled as KION Group) is a German multinational manufacturer of materials handling equipment, with its headquarters in Frankfurt, Hesse, Germany. Its principal products are intralogistics, warehouse automation equipment, and indus ...

for ; the stake grew to 38.25% by 2016. Weichai became the first

Scuderia Ferrari Scuderia Ferrari Società per Azioni, S.p.A. () is the racing division of luxury Italian auto manufacturer Ferrari and the racing team that competes in Formula One racing. The team is also known by the nickname "The Prancing Horse", in refere ...

sponsor from China in January 2013; the sponsorship was to end in 2016. The company appeared on the

Fortune 500 The ''Fortune'' 500 is an annual list compiled and published by ''Fortune'' magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years. The list includes publicly held companies, along ...

list for the first time in 2021 as rank 425.

Awards

* 2007 China Quality Award

References

{{authority control Weichai Group Companies listed on the Hong Kong Stock Exchange Companies listed on the Shenzhen Stock Exchange Energy companies established in 2002 Chinese brands Government-owned companies of China Companies based in Shandong 2002 establishments in China Chinese companies established in 2002 Forklift truck manufacturers Diesel engine manufacturers Electrical generation engine manufacturers Automotive transmission makers Engine manufacturers of China