SINGAPORE, May 28, 2019 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") a leading automotive manufacturer and distributor of engines for on- and off-road applications in China through its main operating subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), today announced four new energy powertrain systems in seven new products at its new energy strategy and product press conference in Beijing.
The newly introduced new energy powertrain systems include an ISG power generation powertrain ("YC IE-Power"), an e-CVT power-split hybrid powertrain ("YC e-CVT"), an integrated electric drive axel powertrain ("YC e-Axel"), and a fuel cell system ("YC FCS"). A total of seven new energy powertrain products representing these four new energy powertrain systems, was also introduced at the press conference.
2020 is going to be a pivotal year for the Chinese commercial vehicle market, as not only the nationwide energy-saving and emission reduction strategies will be implemented, but OEMs and powertrain producers will commercialize their diversified technology offerings as well.
In response to the changing market environment, GYMCL showcased its technology innovation and product development capabilities with these new systems and products, which will complement Yuchai's well-established market access, long-standing customer relations and proven National VI engine product portfolio. In recent years, GYMCL has enlarged its R&D programs in new energy and new technologies to broaden its powertrain solutions.
These new products provide GYMCL the strong advantages of power technology integration and the full integration of engine and electrical technologies to address customers' diversified power needs in different market segments.
Mr. Yan Ping, Chairman of GYMCL, commented, "The future of powertrain systems will be a seamless integration of engine and electric technologies that is not only cost-effective, but also energy-saving. Our new products will focus on medium- and heavy-duty applications, and gradually expand into light-duty markets. More importantly, we are addressing the short- and medium-term market opportunities with the use of new design concepts, new development processes, and new verification methods."
Mr. Weng Ming Hoh, President of China Yuchai, commented, "With the successful roll-out of our National VI engine product portfolio, we are once again introducing products for the future. This opens a new chapter as we implement a two-pronged product strategy. With the new strategy and product roadmap, we are embracing two emerging trends at the same time: transition from traditional engine design and production to full powertrain solutions including new energy powertrains, and transition from the domestic market to international markets."
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 2018, GYMCL sold 375,731 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 it is 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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