SINGAPORE, May 8, 2024
/PRNewswire/ -- China Yuchai International Limited (NYSE:
CYD) ("China Yuchai" or the "Company), one of the largest
powertrain solution manufacturers through its main operating
subsidiary in China, Guangxi
Yuchai Machinery Company Limited ("Yuchai"), today announced that
Yuchai was recently appointed as a Committee Member of the new
Hydrogen Combustion Engine Innovation Consortium ("Consortium")
division of the China Internal Combustion Engine Society. The
Consortium, established under the guidance of the China Association
for Science and Technology and the Ministry of Industry and
Information Technology, led by the national "double carbon" goals,
will further advance the technology development of hydrogen
combustion engines for applications in the automobile, power
generation, marine, industrial and agricultural industries.
Given its success in developing China's first hydrogen combustion-powered
engine, model YCK05H, in December
2021, and the launch of its YCK16H heavy-duty in-cylinder
direct injection hydrogen combustion engine in June 2022, Yuchai has emerged as one of
China's pioneering domestic
hydrogen combustion engine manufacturers. With its expertise in the
field of hydrogen combustion engines, Yuchai was thus duly
appointed as a committee member of the Consortium that is leading
the research and development of hydrogen-powered engines for
commercial vehicles in China.
Yuchai will collaborate with members of the Consortium to
contribute to the development of China's low-carbon and zero-carbon internal
combustion engines.
Yuchai has been one of China's
first powertrain producers to enter the field of hybrid power
systems and other new energy products. In 2019, Yuchai
released four new energy power system products including an
integrated generator engine powertrain, an eCVT power split hybrid
powertrain, an integrated electric drive axle assembly, and fuel
cell systems. Yuchai's engines using alternative fuels such as
hydrogen, will contribute considerably to support China's strategy of "achieving carbon peak
emission by 2030 and achieving carbon neutrality by 2060". At the
2024 World Internal Combustion Engine Conference, Yuchai
demonstrated notable progress in hydrogen engine research and
development.
Mr. Weng Ming Hoh, President of
China Yuchai, said, "The Consortium's collaborative approach is
bringing together more resources to enhance this revolutionary
transformation to alternative low-carbon and zero-carbon fuel
combustion engines. This initiative aligns Yuchai with China's carbon neutrality goals and showcases
the potential for alternative fuels to be a key player in the
reduction of air pollution for the future of the energy and
transportation industries."
About China Yuchai International
China Yuchai, through its subsidiary, Guangxi Yuchai Machinery
Company Limited ("Yuchai"), engages in the manufacture, assembly,
and sale of a wide variety of light-, medium- and heavy-duty
engines for trucks, buses, passenger vehicles, construction
equipment, marine and agriculture applications in China. Yuchai also produces diesel power
generators. The engines produced by Yuchai range from diesel
to natural gas and hybrid engines. Through its regional sales
offices and authorized customer service centers, Yuchai
distributes its engines directly to auto OEMs and retailers and
provides maintenance and retrofitting services throughout
China. Founded in
1951, Yuchai has established a reputable brand name, strong
research and development team and significant market share in
China with high-quality products
and reliable after-sales support. In 2023, Yuchai sold 313,493
engines and is recognized as a leading manufacturer and distributor
of engines in China. For more
information, please visit http://www.cyilimited.com.
Safe Harbor Statement:
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The words "believe", "expect", "anticipate", "project",
"targets", "optimistic", "confident that", "continue to",
"predict", "intend", "aim", "will" or similar expressions are
intended to identify forward-looking statements. All statements
other than statements of historical fact are statements that may be
deemed forward-looking statements. These forward-looking statements
including, but not limited to, statements concerning
China Yuchai group of entities' operations, financial
performance and condition are based on current expectations,
beliefs and assumptions which are subject to change at any time.
China Yuchai cautions that these statements by their nature
involve risks and uncertainties, and actual results may differ
materially depending on a variety of important factors such as
government and stock exchange regulations, competition, political,
economic and social conditions around the world and in China including those discussed in
China Yuchai's Form 20-Fs under
the headings "Risk Factors", "Results of Operations" and "Business
Overview" and other reports filed with the Securities and Exchange
Commission from time to time. All forward-looking statements are
applicable only as of the date they are made and China Yuchai
specifically disclaims any obligation to maintain or update the
forward-looking information, whether of the nature contained in
this release or otherwise, in the future.
For more information:
Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com
View original
content:https://www.prnewswire.com/news-releases/yuchai-appointed-as-committee-member-of-new-hydrogen-innovation-consortium-302139479.html
SOURCE China Yuchai International Limited