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SOURCE China Yuchai International Limited
SINGAPORE, Jan. 12, 2018 /PRNewswire/ -- 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 it has launched 14 new engines compliant with China's more stringent National VI emission standards.
GYMCL's new National VI engines include 10 diesel and 4 natural gas engines with a power range from 100 to 650 horsepower among 3 platforms, namely S, K, and Y, which together stands for "blue sky", which symbolizes GYMCL's commitment to developing clean and efficient engines. The S platform engines address the market for medium- and light-duty engines with models YCS04, YCS06 and YCS04N. The K platform engines cater to the medium- and heavy-duty markets with models YCK05, YCK08, YCK09, YCK11, YCK13, YCK13N, YCK15N and YCK07N. The Y platform engines are for the light-duty engine market with models YCY20, YCY24 and YCY30.
Launching engines that meet or exceed next generation emission standards has been a key strategy for China Yuchai to create a technological edge and market leadership in the market for commercial vehicle ("CV") engines in China, the largest CV market in the world.
Representatives of original equipment manufacturers ("OEMs"), suppliers, vendors as well as government and industry officials attended the launch ceremony hosted by GYMCL's Chairman, Mr. Ping Yan and President, Mr. Qiwei Wu. They include senior executives from leading CV OEMs such as Dongfeng Commercial Vehicle Co., Ltd., Liuzhou Motor, C&C Truck, Foton Motor, Jianghuai Automobile (JAC), Shaanxi Automotive Group and Yutong Bus. Other prestigious guests include Dr. Wanhua Su of the China Academy of Engineering, Mr. Gang Hou, Deputy Director of Guangxi Ministry of Industry, Mr. Kaiguo Li, Chairman of the China Automotive Engineering Research Institute, Mr. Michael Laske, CEO of AVL China, Mr. Thomas Reinhart, Director of the Southwest Research Institute, Mr. Yu-ming Miao, Deputy General Manager of Bosch Automotive Diesel Systems Co., Ltd. and Mr. Tobias Posner, Director of the ThyssenKrupp Forging Technology Group.
At the ceremony, GYMCL signed strategic partnership agreements with 22 truck OEMs including Dongfeng Commercial Vehicle Co., Ltd., and 8 bus OEMs including Yutong Bus, as well as 52 key components suppliers.
China's National V emission standards were fully implemented across the nation in 2017. The more stringent National VI emission standards are expected to be implemented by mid-2020 according to the Ministry of Environmental Protection.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "We are committed to the development of environmental-friendly technologies. The launch of our new product portfolio demonstrates that we are at the forefront of emission technologies, and our R&D and engineering expertise enhances our leadership in the CV engine market. In addition, our strong sourcing capability continues to enable us to fulfil our system design and engineering with world-class components."
About China Yuchai International
China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("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, the Company 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 2016, GYMCL sold 320,424 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 the Company's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. The Company 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 the Company'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 the Company 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.
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