SINGAPORE, Dec. 31, 2021 /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 the Company's YCK05 hydrogen-powered engine achieved stable ignition and operation in a recent demonstration at the Beijing Institute of Technology. The YCK05 engine is the first operating hydrogen engine for China's commercial vehicle market, the world's largest commercial vehicle market.
This successful achievement is another Yuchai hydrogen technology milestone in the development of hydrogen energy as an environmentally friendly alternative propulsion system, following the introduction of Yuchai's hydrogen fuel cell technology.
The YCK05 hydrogen-powered engine adopts a number of advanced special technologies such as high-pressure multi-point inlet air injection technology, high-efficiency low-inertia turbocharging technology, high-efficiency lean burn combustion technology, etc. The engine design upgrades the engine structure and its subsystems such as the combustion and gas distribution systems.
Yuchai took the lead in initiating the research and development of hydrogen-powered engines for China's domestic commercial vehicles and strengthened its scientific research cooperation with the Beijing Institute of Technology. Yuchai will use its extensive experience and advantages in the research and development of internal combustion engines, to develop a solid process to transform hydrogen-powered engine developments into large-scale mass production of these engines. The YCK05 hydrogen engines may be widely applicable in bus, municipal, sanitation, logistics and distribution markets.
Hydrogen power is an important step for China's domestic engine industry to transform away from current internal combustion technology as the country implements its goal to improve the environment.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "With our advancements in developing hydrogen-powered engines, we have expanded to become the domestic enterprise with the largest engine technology portfolio consisting of traditional internal combustion engines, gas-powered engines, hybrid engines, and new energy power technologies. We look forward to the commercialization of hydrogen-powered engines in the future to meet the needs of our diversified customer base and to contribute to improving the environment."
About China Yuchai International
China Yuchai International Limited, through its subsidiary, 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, GYMCL 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 2020, GYMCL sold 430,320 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 China Yuchai's and the joint venture's operations, financial performance and condition are based on current expectations, beliefs and assumptions which are subject to change at any time. China Yuchai 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 China Yuchai'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. Among others, if the COVID-19 pandemic is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected due to a deteriorating market for automotive sales, an economic slowdown in China and abroad, a potential weakening of the financial condition of our customers, or other factors that we cannot foresee. All forward-looking statements are applicable only as of the date it is made and China Yuchai 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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SOURCE China Yuchai International Limited