What Weichai Power makes

Weichai Power's core product is the diesel and gas engine, built at scale for heavy-duty trucks, construction machinery, marine vessels, power generation, and agricultural equipment. The company's WP series engines cover outputs from small agricultural power through large-bore 5 MW generator sets; its M33 and M55 series target data-center standby power. Heavy-duty truck engines, the company's largest segment, run in Tier-1 volumes across the Chinese market and in export fleets across Central Asia, Southeast Asia, Africa, and Europe.

The powertrain system extends beyond engines. Shaanxi Fast Gear (Fast brand), a Weichai subsidiary, is by the company's own statement the largest specialized heavy-duty transmission producer in China, with seven plants across Xi'an, Baoji, and Xianyang. Shaanxi Hande Axle supplies heavy-duty drive axles, and Weichai's hydraulic segment covers pumps, motors, and control valves for construction machinery and industrial applications.

On the vehicle side, Weichai owns Shacman, which manufactures heavy-duty trucks for domestic and international markets. Its agricultural segment operates under the Weichai Lovol brand, covering tractors, harvesters, and other farm equipment. The material-handling and logistics-automation segment is served through Weichai's approximately 45 percent ownership of KION Group, the German company that operates the Linde and STILL forklift brands and the Dematic warehouse automation business.

New energy is a growing piece of the portfolio. Weichai's new energy power business reported revenue of RMB 3.04 billion in 2025, a 97 percent year-on-year increase, covering battery systems for heavy-duty and light trucks, range extenders for mining vehicles, and hydrogen fuel-cell systems developed in conjunction with the National Fuel Cell Technology Innovation Center. The company also owns a stake in Ballard Power Systems (Canada) and made a 2018 strategic investment in Ceres Power (UK), a solid oxide fuel cell developer.

Financial performance

Weichai Power's total group operating income reached RMB 231,809 million in FY2025, a 7.5 percent increase from the prior year, per the company's annual results filed with HKEX in March 2026. Net profit attributable to parent shareholders was RMB 10,931 million, down 4.1 percent. The Berylls by AlixPartners Automotive Supplier Top 100 study (2026) measures Weichai's automotive-sector-only revenue at approximately EUR 8.5 billion for FY2025, a 13.7 percent decline from the prior Berylls period; the Berylls notes indicate this swing reflects a scope or perimeter change rather than a trading collapse, consistent with the total group's 7.5 percent top-line growth on its own filings.

The most recently published operating margin is 13.3 percent, per the Berylls study for FY2024; Weichai did not separately publish a 2025 operating margin in publicly accessible English-language filings as of the date this profile was compiled. Weichai reports both on the Hong Kong Stock Exchange (stock code 2338) and the Shenzhen Stock Exchange (000338), making its financials subject to dual-jurisdiction disclosure requirements.

The company's employee base across the global group, including subsidiaries in Europe (KION, Baudouin), North America (Weichai America, Dematic), and Asia, is commonly reported in industry sources as exceeding 80,000 people; the company's English-language investor materials do not publish a single group headcount on its profile page.

Ownership and history

The Weifang Diesel Engine Factory, the industrial precursor to Weichai, traces back to the early 1950s in Shandong Province. Weichai Power Co., Ltd. was incorporated in 2002, when the factory's successor used it as the vehicle for listing on the Hong Kong Stock Exchange, becoming the first Chinese internal combustion engine company to do so. The listed entity later achieved a dual listing on the Shenzhen exchange through a stock-swap acquisition structure.

Control sits with Shandong Heavy Industry Group, a state-backed Chinese conglomerate. Weichai Power's profile within the group expanded through a series of acquisitions: France's Moteurs Baudouin in 2009, bringing large-bore marine and industrial power capability; a 25 percent founding stake in KION Group in December 2012, since increased to approximately 45 percent, which made Weichai the largest shareholder in Europe's leading forklift manufacturer; a 2018 strategic investment in Ceres Power (UK) for solid oxide fuel cell technology; and a stake in Canada's Ballard Power Systems for hydrogen fuel-cell systems.

In January 2026, Shandong Heavy Industry formally launched a seventh business segment, Power and Energy, focused on data-center generator sets and solid oxide fuel cells. Within that segment, Weichai's M-series generator sets cover the 1,250 to 5,000 kWe range, and the company reports its 5 MW high-speed diesel generator set is the highest power density unit of its type globally.

Chairman Tan Xuguang, who built the company over 26 years in that role, retired in August 2024. Ma Changhai succeeded him as chairman; Wang Decheng serves as general manager, per the company's board filings with HKEX as of early 2025.

Headquarters are at 197A Fushou East Street, High-Tech Development Zone, Weifang, Shandong Province. The company maintains a US subsidiary, Weichai America Corp., based in Rolling Meadows, Illinois, which has recorded 166 US import shipments through April 2026 per US customs data, primarily sourcing from Shandong Weichai Import and Export and affiliated Shantui entities.

Certifications and quality

Weichai Power states it operates quality management systems across its manufacturing subsidiaries. The Baudouin (Weifang) subsidiary holds certification under the Chinese equivalents of ISO 9001, ISO 14001, and ISO 45001, per the company's subsidiary description. The company has received the China Quality Award, considered the country's highest quality recognition, and won three gold awards at the 50th International Convention on Quality Control Circles (ICQCC) in December 2025. The company also states it has been designated a National Intelligent Manufacturing Benchmark Enterprise, per a December 2025 company announcement. In August 2026, Weichai's Digital Industrial Park received what the company describes as the internal combustion engine industry's first zero-carbon factory certification, following a multi-year program integrating wind, solar, energy storage, hydrogen, and waste-recovery systems. Specific IATF 16949 certification dates for the main Weichai Power engine production entity were not located on the English-language site during this profile compilation; quality certifications for specific plants should be confirmed directly with the company.

Known customers

Weichai Power's documented customer relationships run primarily through its subsidiary and equity structures rather than individually disclosed OEM supply contracts. Individual program relationships are not itemized in English-language public disclosures; the table below reflects what is verifiable from public sources.

Frequently asked questions

What does Weichai Power make?

Weichai Power makes diesel and gas engines for heavy-duty trucks, construction machinery, marine, and power generation applications, along with transmissions, axles, hydraulic systems, commercial vehicles (Shacman brand), agricultural equipment (Weichai Lovol brand), and new-energy systems including batteries and hydrogen fuel cells. Through its approximately 45 percent stake in KION Group, it is also a major force in industrial forklifts and warehouse automation.

Who owns Weichai Power?

Weichai Power Co., Ltd. is a publicly listed company, traded on the Hong Kong Stock Exchange (code 2338) and the Shenzhen Stock Exchange (code 000338). Shandong Heavy Industry Group, a state-backed Chinese conglomerate, is the controlling shareholder. The company's chairman is Ma Changhai, who succeeded founder-era chairman Tan Xuguang in August 2024.

What is Weichai Power's annual revenue?

Weichai Power's total group operating income was RMB 231,809 million in FY2025, up 7.5 percent from FY2024, per its 2025 annual results filed with HKEX in March 2026. The Berylls by AlixPartners Automotive Top 100 study measures the automotive-sector-only portion of Weichai's revenue at approximately EUR 8.5 billion for the same period.

Where is Weichai Power headquartered?

Weichai Power is headquartered in Weifang, Shandong Province, China, at 197A Fushou East Street in the city's High-Tech Development Zone (postal code 261061). The company also operates a US subsidiary, Weichai America Corp., in Rolling Meadows, Illinois.

Who are Weichai Power's customers?

Weichai Power's customers span heavy-duty truck manufacturers, construction machinery companies, marine vessel builders, and power generation operators across more than 150 countries. The company's KION Group subsidiary (approximately 45 percent Weichai-owned) serves forklift and warehouse automation customers worldwide. Specific OEM program relationships are not publicly itemized in English-language disclosures; direct inquiry is the appropriate channel for program-level information.

Last verified September 2026. Is this your company? Request a correction.