Co-ops Between Weichai America Corp. and PSI to Bring Win-win Result
www.chinatrucks.com: From June 3rd to 6th American local time, Tan xuguang, chairman and CEO of Weichai Power and his delegation paid a visit to Power Solutions International, Inc. (“PSI” or the “Company”). During the visit, Mr. Tan not only heard a report on work from PSI management team, R&D team and marketing team, had cordial chat with workers at the production line, but also presented a keynote speech to thousands of staff in PSI.
Aa early as March this year, PSI a leader in the design, engineer and manufacture of emissions-certified, alternative-fuel power systems announced a share purchase agreement with Weichai America Corp. (“Weichai America”), who invested $60 million in PSI through a combination of newly issued common equity and preferred shares. Weichai America is a fully owned subsidiary company of Weichai Power Co., Ltd. (“Weichai”), a China-based leading global designer and manufacturer of diesel engines, having sold more than 4 million heavy duty diesel engines, with products sold in more than 110 countries around the world.
Weichai is an international company with 80 thousand employees worldwide and revenue of roughly 20 billion dollars in 2016, about half revenue comes from overseas market. The two companies have also agreed to a strategic collaboration agreement under which they will work together to accelerate market penetration opportunities for each company’s respective product lines across various geographic markets and end user segments. Through the alliance, PSI will gain access to Weichai’s international manufacturing facilities and supply chain network.
Tan xuguang points out that the establishment of strategic cooperation between Weichai will enable PSI to broaden its existing product portfolio and contribute to its development under the support from global supplying system.
According to Tan xuguang, the cooperation with PSI is not limited to investment in PSI, it also includes the diesel engine technology and rich resources. Under the great efforts made by PSI management team and the staff, we believe that the alliance will provide support for PSI and finally bring a win-win result for both parties.
- Foton Signed a Strategic Cooperation Framework Agreement with Weichai 2020-08-11
- Tan Xuguang Learns the Development and Application of Hydrogen Fuel Cell 2020-06-22
- Weichai Takes a Step Further Towards Developing Hydrogen Power in CV 2020-06-03
- Weichai’s New Mining Truck Goes Off the Assmbly Lines in Yangzhou 2020-05-25
- Weichai Opens Hydrogen Fuel Cell Plant in China 2020-04-02
- Weichai WP10.5H Engine Sales Jump 237% in First Two Months of 2020 2020-03-17
- Weichai WP7NG Engine Successfully Passed India National VI Emission Standard 2020-03-04
- 1000 Weichai-powered Mining Trucks Delivered to Customers 2020-02-19
- Weichai Overseas Set a Benchmark for International Capacity Cooperation 2020-02-13
- Tan Xuguang: Weichai Resumes Production Under Governments’ Guidance 2020-02-07
Submit Your Requirements, We Are Always At Your Service.
- BYD Starts Operating Its Battery Factory in Brazil
- Kenworth Produces Last Severe-Service K500 Cabover
- Dongfeng Starts Construction on Its New Factory in Shiyan
- LNG Truck Sales Expected to Reach 113 Thousand Units by End of 2020
- ZOOMLION Listed in China’s 500 Most Valuable Brands for 17 Consecutive Years
- ZOOMLION’s 38m Truck Mounted Pump for India Rolls off Assembly Line
- Foton Signed a Strategic Cooperation Framework Agreement with Weichai
- Foton's Brand Value Reached 168.592 Billion RMB
- JAC and VW Cooperation Process
- Hyundai Targets 15% of European Hydrogen Truck Market by 2030
C&C Trucks Co., Ltd.
C&C Trucks Co , Ltd (C&C Trucks), located in Sanshan Economic Development Zone, Wuhu, Anhui Province, a holding company under China International Marine Containers (Group) Co , Ltd (CIMC), is a large heavy truck enterprise integrating the research and development, production
- Chinese Heavy Truck Makers Set Higher Sales Targets for 2020
- JAC Truck Achieves 23,000 Units Sales in July, a 40.8% YoY Growth
- China’s Tractor Sales Saw Surging Growth in July
- Foton's July Truck Sales Seen Surging Growth
- China’s Heavy Truck Sales Hit New High in July
- Foton Overseas Sales Grow Against the Trend in H1, 2020
- China's Pickup Truck Output And Sales Went Up in June
- China’s Medium-size Trucks Sales Totalled 13,000 Units, Up 36.8% Year-on-Year
- Hongyan Tops the Dumper Sales List in June
- JAC Light Duty Truck Sales Exceeds 100 Thousands Units with 6% YoY Growth in H1