China Yuchai Forms Strategic Partnership with Sunlong Bus to Develop Electric Vehicles
China Yuchai International Limited (NYSE: CYD) (“China Yuchai” or the “Company”) announced today it has entered into a strategic partnership agreement with an electric vehicle (“EV”) bus producer in China, Guangxi Shenlong Automobile Manufacturing (“Sunlong”).
According to the strategic partnership agreement, China Yuchai and Sunlong will join technologies to develop new energy vehicles based upon China Yuchai’s four new energy powertrain systems including the ISG power generation powertrain (“YC IE-Power”), e-CVT power-split hybrid powertrain (“YC e-CVT”), integrated electric drive axel powertrain (“YC e-Axel”), and a fuel cell system (“YC FCS”). In addition to product development, China Yuchai and Sunlong will leverage each other’s supply chains and distribution networks, especially in international markets, with a focus on entering into the southeast Asian markets.
Headquartered in Nanning, Guangxi Province, Sunlong specializes in new energy buses, and logistical vehicle development and production in southern China. In the past, China Yuchai has supplied its electric direct drive system, hybrid system and Nat VI-compliant CNG natural gas engine to Sunlong for its vehicles sold in southern and western China. In April 2021, the first batch of Sunlong buses featuring China Yuchai’s new energy powertrain systems was successfully delivered to the Nanning local public transit operator.
Mr. Weng Ming Hoh, President of China Yuchai, commented, “We are excited to ink this important strategic partnership with Sunlong and make further inroads into the fast-growing new energy vehicle market in China and abroad.”
Source: China Yuchai International Limited