Overseas expansion of business led by technological expertise

Business representatives from abroad show keen interest in Weichai's wide range of products at the SDHI Weichai Power Global Partners' Conference in Qingdao, Shandong province. CHINA DAILY

As one of the forerunners of Chinese enterprises "going global", Weichai has forged a path of high-quality development in its overseas business landscape. Its decadelong focus on internationalization has not only expanded its global footprint but solidified its position as a key player in the global industrial equipment sector.

To date, Weichai has a stake in renowned overseas companies, including Ferretti in Italy, Kion and Linde Hydraulics in Germany, Dematic and PSI in the United States, Baudouin in France, and Ballard in Canada, with its internationalization index standing at 40.93 percent. Notably, all the overseas acquired companies of the group have maintained steady growth.

Ma Changhai, deputy general manager of Shandong Heavy Industry Group, chairman and general manager of Weichai Group, and chairman of Weichai Power, said that the group has ramped up efforts in product exports, tailoring strategies to meet diverse market needs.

By rolling out targeted measures and diversified solutions, Weichai has delivered impressive export results. In the first three quarters of 2025, export revenue for its engine segment surged by more than 30 percent, hitting a historic high and effectively avoiding the risks brought by domestic market fluctuations.

Today, Weichai's global engine ownership exceeds 6.5 million units, with over 1.2 million units deployed overseas. Its heavy-duty truck engines rank first globally, while its energy power systems and medium-speed engines are among the top three worldwide, becoming the core drivers of its overseas growth.

Updates on Weichai's overall performance were shared at the news conference of SDHI Weichai Power Global Partners' Conference, which was held in Qingdao, Shandong province, last week.

At the event, Ma revealed that Weichai's operating revenue reached more than 250 billion yuan in the first nine months, a year-on-year increase of 6 percent, representing the company's high-quality development.

As the core subsidiary of Shandong Heavy Industry, Weichai has evolved into a leading Chinese multinational group specializing in industrial equipment with global influence. It has built a comprehensive industrial matrix spanning power systems, commercial vehicles, agricultural equipment, construction machinery, intelligent logistics, and marine transportation equipment.

Its brand portfolio includes well-known names such as Weichai Power, Shaanxi Heavy-duty Motor, Weichai Lovol Heavy Industry, Dematic, and Ferretti, with an annual total operating revenue exceeding 300 billion yuan.

In recent years, Weichai has prioritized innovation-driven development, advancing strategic transformations toward new energy, digital intelligence and the after-sales market. This has accelerated the formation of a diversified power industry ecosystem while driving the upgrading of China's manufacturing sector.

Weichai's brand strength is also widely recognized. At the 2025 China Brand Day, Weichai Power's brand value reached 83 billion yuan, ranking second in China's machinery and equipment manufacturing industry. In September, Weichai Group secured the 87th spot in the 2025 China Top 500 Enterprises list, based on its 2024 operating revenue of over 312 billion yuan.

Amid fierce industry competition and the pressing need for new energy transformation, Weichai has seized opportunities in the artificial intelligence era by boosting its large-bore engine business, thus yielding impressive growth in both domestic and overseas markets.

"From just a few dozen units sold in 2023 to hundreds in 2024, sales of our large-bore products in the first three quarters of this year soared by 400 percent year-on-year," Ma noted. "This substantial growth has provided strong support for the expansion of our traditional business segments."

In the new energy arena, Weichai has been laying out its new energy power system since 2010, integrating motor, motor controller, and battery technologies. It has developed a product matrix of over 100 battery products and more than 30 motor products, catering to sectors such as new energy heavy trucks, light trucks, and buses.

Business representatives from abroad show keen interest in Weichai's wide range of products at the SDHI Weichai Power Global Partners' Conference in Qingdao, Shandong province. CHINA DAILY

Business representatives from abroad show keen interest in Weichai's wide range of products at the SDHI Weichai Power Global Partners' Conference in Qingdao, Shandong province. CHINA DAILY

The conference's attendees standing at power and propulsion systems on display pose for a photo. CHINA DAILY