The Weichai Power Global Supply Chain Partnership Conference is held in Haikou, the capital of Hainan province from Dec 10 to 11. [Photo/chinadaily.com.cn]

Weichai Power, a leading Chinese powertrain producer in Shandong province, held its Global Supply Chain Partnership Conference in Haikou, the capital of Hainan province from Dec 10 to 11. Over 400 global suppliers attended the event, which sought to foster and enhance global partnerships. 

Tan Xuguang, chairman and general manager of Shandong Heavy Industry Group, delivered a keynote speech at the conference.  

Weichai Group has been working with global supply chain partners to create the world's best industrial cooperation ecology, said Tan, who is also chairman of Weichai Power and chairman of Sinotruk. He then proposed four cooperation principles to deepen partnerships. During the conference, Weichai Power CEO Wang Decheng signed letters of commitment with 10 suppliers.

Tan Xuguang, chairman and general manager of Shandong Heavy Industry Group, delivers a keynote speech at the conference.  [Photo/chinadaily.com.cn]

The 2024 Weichai Power-Sinotruk Engine R&D and Application Community General Meeting was also held during the conference. During the event, industrial chain partners held discussions about industry development trends and collaborative innovation in key engine core technologies.

Weichai has been developing internal combustion engines for over 70 years and has been focusing more on research and development to expand its global market in recent years. From 2020 to 2022, the company achieved several breakthroughs in diesel engine, boosting thermal efficiency to record highs of 50 percent, 51 percent, and 52 percent in each of those three years.

Statistics show that the sales revenue of Weichai Group this year is expected to increase by 32 percent year-on-year, while its export revenue is expected to rise by 57 percent year-on-year. By the end of this year, the company's engine sales volume is expected to increase by 29 percent year-on-year.

Weifang-based Weichai Group releases the world's first commercial diesel engine with a base engine thermal efficiency of 52.28 percent and the world's first commercial natural gasengine with a base engine thermal efficiency of 54.16 percent on Nov 20, 2022. [Photo/chinadaily.com.cn]