Weichai expands its global presence
(chinadaily.com.cn )| Updated : 2018-12-04Print Print
Weichai Group, China's leading automobile and equipment manufacturer, held the 2019 Overseas Agent Conference on Dec 2 in Xi'an, capital city of Shaanxi province.
Weichai announced that by 2030, its annual sales revenue was expected to reach $100 billion, with overseas business accounting for more than half. It is set to become one of the world's top 500 companies with continuous improvement in competitiveness.
The conference attracted nearly 1,000 overseas merchants and dealers from 57 countries and regions around the world.
Alam, an agent from Bangladesh, said that his company has been cooperating with Weichai since 1992, more than 25 years. Thanks to Weichai's quality after-sales service, unique distribution channels and sufficient accessories, its products currently have a 67 percent sales share in Bangladesh's marine engine market, an absolute leading edge.
"We are a member of the Weichai family. With the joint efforts of Weichai and us, Weichai will be developed into the world's number one brand," said Alam.
After years of exploration and cultivation, Weichai has gradually formed an overseas operation strategy of "trade export + localized production + technology output + mergers and acquisitions".
It has completed mergers with Moteurs Baudouin of France, Ferretti of Italy and KION Group and Linde Hydraulics of Germany.
Weichai has implemented local manufacturing in India, Thailand and Belarus. It has boosted industries in Ethiopia and Myanmar through technology export.
It also has accelerated overall layout of products and brands in major markets including Southeast Asia, the Middle East and North Africa, the CIS (Commonwealth of Independent States) countries and South Asia.
Weichai's products are sold to 110 countries and regions. In 2017, its operating income exceeded 220 billion yuan ($32.1 billion), 40 percent of which came from overseas. It became a successful case of Chinese companies going global.
From January to October this year, Weichai's accumulated aggregate income reached 189.87 billion yuan. The total profit was 11.188 billion yuan, up 29.06 percent year-on-year.
In the first half of 2018, its overseas subsidiary KION Group's orders increased by 17 percent year-on-year, and Linde Hydraulics also showed booms in production and marketing.
On Nov 18, a factory jointly built by Weichai Group and Belarus' Maz Group in the China-Belarus Industrial Park started trial production.
It is the first diesel engine cooperation project between China and Belarus. It entered the industrial park in September 2017 and officially started construction in April 2018.
The plant is expected to have an annual production capacity of 20,000 diesel engines, which will fill Belarus's blank in that field.
Meanwhile, Weichai's Middle East Operation Center has been established to accelerate the promotion of local business.
In addition, Weichai also actively seeks overseas cooperation. It has reached strategic cooperation with Germany's Bosch Group, Britain's Sirius Power and Canada's Ballard Power Systems and Westport to accelerate the development of new energy business.
Weichai powerplants are exhibited during the 2019 Overseas Agent Conference on Dec 2 in Xi'an, capital city of Shaanxi province. [Photo provided to chinadaily.com.cn]
Overseas merchants exchange opinions on the Weichai product exhibition during the 2019 Overseas Agent Conference on Dec 2 in Xi'an, capital city of Shaanxi province. [Photo provided to chinadaily.com.cn]
Merchants and dealers from around the world communicate with each other during the 2019 Overseas Agent Conference held by Weichai Group on Dec 2 in Xi'an, capital city of Shaanxi province. [Photo provided to chinadaily.com.cn]