SINGAPORE, Aug. 13,
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's Marine and Genset Power subsidiary and
Rolls-Royce's Power Systems division, recently signed an agreement
to enter into a second phase cooperation and development of their
50/50 joint-venture entity MTU Yuchai Power Company Limited ("MTU
Yuchai Power").
Pursuant to the agreement, MTU Yuchai Power will extend the
production and localization of the mtu Series 4000
for both Power Generation and Oil & Gas segments. The
joint venture will also undertake the production and sales of the
mtu Series 2000 and the Yuchai branded VC series
diesel engines to address the rapid growth in domestic and overseas
power generation markets. By adding new products from both parent
companies, the joint venture is poised to bolster its manufacturing
capabilities and extend new product offerings to meet growing
demand. With its second phase scheduled to commence mass
production and operation in the second half of 2025, MTU Yuchai
Power is strategically positioned with more product offerings to
address new market opportunities.
Since its establishment in 2017, MTU Yuchai Power has produced
and sold more than 2,000 units of mtu Series
4000 to customers including data centers and semiconductor
fabrication plants. The Series 4000 successfully created a high-end
engine market category in China
for power generation application.
Mr. Weng Ming Hoh, the President
of China Yuchai, commented, "Since day one, MTU Yuchai Power
engines stood for remarkable performance and outstanding quality.
The mtu Series 4000 and 2000 and the Yuchai
VC engines are high-quality engines from both parent
companies. New products and higher supply in the second phase
of our joint venture are expected to capture more market
opportunities and continue our growth momentum in China and abroad."
About China Yuchai International
China Yuchai International Limited, 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
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SOURCE China Yuchai International
