Weichai Power formally signed contracts with Canadian Westport Innovation Corporation and Hong Kong Pei Xin (China) Investment Co., Ltd. in Beijing to establish a new joint venture company, Weichai Power Westport New Energy Engine Co., Ltd., dedicated to the development and manufacture of heavy-duty trucks for long-distance transport. LNG engine.
According to the three-party joint venture agreement, Weichai Power Xikong New Energy Engine Co., Ltd. has a total investment of RMB 150 million. It is developing and manufacturing heavy-duty high-speed high-speed LNG vehicle engines with the core of LNG high pressure direct injection technology in Westport, Canada. With a full fuel can be more than 800 kilometers of life.
According to the agreement, Westport will provide all the required high pressure direct injection technology and technical support to the joint venture company. Under the same conditions, the joint venture company will have the priority of licensing all other technologies developed by Westport in the Chinese territory.
According to reports, at present, the plant construction has been basically completed, most of the equipment is in place, and it has the capacity to produce 20,000 high-power LNG engines for vehicles. Prior to this, CNG and LNG gas engines produced by Weichai Power had mass-produced into urban public transportation, power generation and other fields.
Tan Xuguang, chairman of Weichai Power, believes that in recent years, “environmental protection†and “energy saving†have become the focus of the world. With the rapid rise in the price of crude oil, the continuous upgrading of China’s emission standards and the expansion of car ownership, the transportation industry’s fuel costs have increased significantly. With the increase, the demand for energy-saving and environmental-friendly vehicles from Chinese users has become more urgent. The demand for newer, cleaner engines such as natural gas and liquefied petroleum gas has increased significantly.
According to the National Cleaner Vehicle Productivity Promotion Center in China, there are currently 185,000 natural gas vehicles in China, and the infrastructure for providing fuel to these vehicles is rapidly increasing, and gas engines have an increasingly broad market prospect.
Weichai Power's flagship product, the "Lan-Qing" series, accounts for 36% of domestic heavy-duty vehicles and has a share of over 11% in the global heavy-duty engine market. Westport Innovations has many patented solutions for the application of clean fuels in engines such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen and waste gas and other biofuels. Hong Kong Peixin (China) Investment Co., Ltd. has been cooperating with Weichai since the 1990s to be responsible for the sales of new energy engines in overseas markets.
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