“Weichai New Energy Commercial Vehicle Co., Ltd. implements the integrated layout of production, marketing and research in Yantai, focused on the medium and light truck business in the early stage, gave full play to the characteristics of 'new' and 'fast', and in 2020, the sales of new products exceeded 10000 in the first year after they were put on the market,made the commercial vehicle industry started the fastest pace of development. “Tian Qiang, General Manager of Weichai New Energy Commercial Vehicle Co., Ltd., said that in 2021, with a 20 % decline in the industry, our company achieved 60 % growth and achieved a relative growth of 80 %.

From January to July 2022, due to multiple factors, the overall sales of the light truck industry declined by 50%, and the industry development situation was extremely severe. Weichai New Energy Commercial Vehicle adjusted its product structure and increased added value, and its output value was basically equal to that of the same period. Through the launch of new products and the distribution network optimization, the company was still have 30% growth and 60% relative growth was achieved in the year when the industry was expected to decline by over 30%. The annual sales volume in 2022 is expected to exceed 21000, including 7000 in the first half of the year and 14000 in the second half of the year, which will double in half a year.

“To achieve the 'doubling' goal, we decided to take innovation, integration and new energy as the support,” said Tian Qiang. In terms of innovation, Weichai New Energy Commercial Vehicle Co., Ltd. made it clear at the beginning of its establishment that the mission of the enterprise is to “produce good trucks for users", and always focus on “the whole process of customer operation” and “the whole life cycle of products” and innovatively applied the Group’s golden industry chain powertrain that won the first prize of the National Science and Technology Progress Award, to match with the vehicle. On this basis, it implemented scientific and technological innovation, high-level technology is applied to light trucks at low cost in combination with the actual needs of light truck users, each product leads the industry innovation; In terms of integration, 70% of the major assembly parts of Weichai new energy commercial vehicle products are completely self made in the Group, and independently master all software and hardware technologies, integrated research and development, and integrated manufacturing, is the only one in China, with the best product quality in the industry; In terms of new energy, Weichai Commercial Vehicle’s vision is to be a first-class green logistics solution provider. In the future, the company will focus on breakthroughs in the field of new energy business. The new energy business was launched last year, with a market share of 6% in the first half of this year, ranking the top five in the industry. In the future, the company will strive to quickly enter the first echelon of the industry.

“Weichai’s rapid development of new energy commercial vehicles relies on its strong Group resource, thanks to the strong support of the Yantai Municipal Party Committee and the Yantai Municipal Government, and I believe that in the correct leadership and support of the Yantai Municipal Party Committee and the Yantai Municipal Government, we will be able to achieve the 'doubling' goal in the second half of the year.  Tian Qiang said that, on the basis of the previous investment of 1 billion yuan, the enterprise will also invest 900 million yuan in new product research and development and market development this year, In 2025, its target is to achieve the annual production and sales of 150000 vehicles and become a first-class commercial automobile group.