SINGAPORE, May 21, 2024 /PRNewswire/ -- China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company), one of the largest powertrain solution manufacturers through its main operating subsidiary in China, Guangxi Yuchai Machinery Company Limited ("Yuchai"), announced that 50 green energy buses equipped with Yuchai Xingshunda hydrogen fuel cells debuted at a ceremony in Beijing. Yuchai Xingshunda is a 65% owned joint venture of Yuchai established in 2022 with Beijing Xing Shun Da Bus Co., Ltd. for the development, manufacturing and sale of fuel cell powertrain systems as well as core fuel cell power system components.
These first 50 Suzhou King Long 12-meter hydrogen fuel cell buses commenced their commercial operations powered by 30 units of 82kW and 20 units of 125kW Yuchai Xingshunda hydrogen fuel cell systems. This Yuchai 82kW hydrogen fuel cell system generates an energy efficiency higher than 43% and enables a service life of more than 15,000 hours. It is highly suitable for buses, light-duty trucks, passenger vehicles, construction machinery and other applications. The Yuchai 125kW hydrogen fuel cell system features a proprietary metal plate stack to reduce hydrogen consumption and has an energy efficiency above 45%. Together with Yuchai's advanced intelligent energy management programs and algorithms, the 125kW system enables optimal energy distribution and utilization, improves the overall system performance and safety, and prolongs the powertrain lifespan to more than 15,000 hours. Yuchai's 125kW hydrogen fuel cell system is designed for semi-trailers, cargo and dump trucks, passenger cars, and construction machinery.
These Yuchai new green energy powertrain products are important to meet the national "double carbon" goal. Compared with traditional internal combustion engines ("ICE"), hydrogen fuel cell powertrain systems use the electrochemical reaction of hydrogen and air to replace the combustion process in traditional ICE vehicles. These new products have demonstrated many technical advantages such as high energy efficiency, zero emissions, low noise, and high-power density. These two hydrogen fuel cell powertrain systems not only meet the national technical guidance requirements for hydrogen power, but also source all components and parts domestically in China.
"Green and low-carbon transportation" is one of the "Top Ten Actions to Peak Carbon". In recent years, construction of China's hydrogen energy industry has developed at an accelerated rate. While continuing to develop reliable and leading traditional power engines, Yuchai has also embraced investments in new energy powertrain development. Using Yuchai Xin-Lan New Energy Power Technology Co., Ltd as a platform, Yuchai promotes strategic cooperation to strengthen core competences, and build expertise in creating new energy systems for a wide range of operating scenarios.
Mr. Weng Ming Hoh, President of China Yuchai, said, "China's hydrogen energy and fuel cell industry are poised to enter a period of accelerated growth. These 50 hydrogen buses commencing operation are the first product implementation of Yuchai Xingshunda's core technologies in the marketplace."
About China Yuchai International
China Yuchai, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("Yuchai"), 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. Yuchai also produces diesel power generators. The engines produced by Yuchai range from diesel to natural gas and hybrid engines. Through its regional sales offices and authorized customer service centers, Yuchai distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, Yuchai 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 2023, Yuchai sold 313,493 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 group of entities' 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. All forward-looking statements are applicable only as of the date they are 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
