SINGAPORE— China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”) a leading manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited (“GYMCL”), announced today that its subsidiary Yuchai Xin-Lan New Energy Power Technology Co., Ltd. (Yuchai Xin-Lan“) has entered into a cooperation agreement to further develop hydrogen energy applications with fuel cell powertrain systems in the Beijing, Tianjin and Hebei markets.
Pursuant to the agreement, Beijing Xing Shun Da Bus Co., Ltd. (“Beijing Xing Shun Da”) and Yuchai Xin-Lan will form a joint venture in the Daxing District of Beijing to research and develop and manufacture fuel cell powertrain systems for on- and off-road applications. The joint venture partners will also combine their resources and capabilities to advance the development of core fuel cell power system components.
Mr. Weng Ming Hoh, President of China Yuchai, commented, “This new hydrogen energy project with Beijing Xing Shun Da further demonstrates our commitment to providing new energy solutions at a time when energy demand is increasing, and climate conditions call for more sustainable solutions.”
About China Yuchai International
China Yuchai International Limited, through its subsidiary, GYMCL, 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. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, GYMCL distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, GYMCL 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 2020, GYMCL sold 430,320 engines and is recognized as a leading manufacturer and distributor of engines in China. For more information, please visit http://www.cyilimited.com.