Weichai Group (HK2338; SZ000338) and Bosch Group Join Forces for the Future - New Energy and Technology Innovation Strategy

JINAN, China, Nov. 3, 2023 /PRNewswire/ -- On the 3rd November, China Weichai and Germany Bosch Group signed a strategic cooperation agreement on future technological innovation. The two parties will strengthen collaboration in the area of new energy, high thermal efficiency diesel engine, intelligent transport, etc., synergising the global R&D resources of both parties, capturing more critical core technologies, resolving worldwide issues, and jointly making new contributions to the development of the global industry.

In the afternoon of the 2^nd November, Stefan Hartung, Chairman of the Bosch Board of Management Directors of Bosch Group visited Weichai Group. He met Tan Xuguang, Chairman of Shandong Heavy Industry Group and Chairman of Weichai Power and held discussions and exchanged ideas. Stefan Hartung said that both parties have achieved record-breaking results in the past collaboration, and hoped to further expand the co-operation into new technological areas such as fuel cells, to accomplish better and longer-term development. Tan Xuguang said that both parties have worked closely on technological advancement, creating a showcase model of collaboration between Chinese and German enterprises. Weichai will continue to strengthen the all-round strategic cooperation with Bosch, synergising their global R&D resources, and together, leading the development of the global industry.

The cooperation between Weichai and Bosch started in 1999, and has established a strong strategic partnership over the past 20 years. They have successfully launched in-depth cooperation in the area of internal combustion engine power and accomplished glamorous results, making the common rail system more deep-rooted and popular in the Chinese market.  With the continuous upgrading of China's emissions, Weichai and Bosch have witnessed the continuous advancement of China's internal combustion engine industry.  Along with the rapid development of new energy vehicles, Weichai and Bosch have always been rapidly responded to market demands - envisioning a new outlook of the new energy, committing themselves into research development and commercializing of fuel cells products. These has opened a new chapter for the strategic cooperation between the two companies.