First Batch of Green Energy Buses with Yuchai Xingshunda Hydrogen Fuel Cells Launched

Rhea-AI Summary

On May 21, 2024, China Yuchai International launched 50 green energy buses equipped with Yuchai Xingshunda hydrogen fuel cells in Beijing. These buses utilize Yuchai's 82kW and 125kW hydrogen fuel cell systems, which offer over 43% and 45% energy efficiency respectively and a service life of over 15,000 hours. The 82kW system is suitable for lighter vehicles while the 125kW system is for heavier applications. This initiative aligns with China's 'double carbon' goal, aiming for higher energy efficiency, zero emissions, and low noise. The launch signals the company's commitment to advancing hydrogen technology and sustainable transportation.

Positive

• Launch of 50 hydrogen fuel cell buses indicates progress in green energy transportation.
• 82kW and 125kW hydrogen fuel cell systems offer high energy efficiency (above 43% and 45%).
• Service life of over 15,000 hours for hydrogen fuel cell systems enhances durability.
• Hydrogen fuel cells reduce emissions and noise compared to traditional internal combustion engines.
• Alignment with China's 'double carbon' goal supports long-term sustainability initiatives.
• All components sourced domestically, promoting local industry growth.
• Significant investment in new energy powertrain development indicates forward-thinking strategy.

Negative

• Initial launch to 50 buses, which may not significantly impact market share.
• High dependency on the success of hydrogen fuel cell technology which is still emerging.
• Potential for high initial costs associated with hydrogen fuel cell technology implementation.
• Operational scaling and infrastructure for hydrogen refueling may pose logistical challenges.

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.

For more information:

Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com 

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SOURCE China Yuchai International Limited

FAQ

What are the key features of the Yuchai Xingshunda hydrogen fuel cells launched by China Yuchai?

The Yuchai Xingshunda hydrogen fuel cells offer energy efficiencies above 43% and 45%, with a service life over 15,000 hours, and are designed for a variety of vehicles.

How many hydrogen fuel cell buses were launched by China Yuchai?

China Yuchai launched 50 hydrogen fuel cell buses.

When were the Yuchai Xingshunda hydrogen fuel cell buses launched?

The buses were launched on May 21, 2024.

What is the energy efficiency of the Yuchai 82kW hydrogen fuel cell system?

The Yuchai 82kW hydrogen fuel cell system has an energy efficiency higher than 43%.

What makes the Yuchai 125kW hydrogen fuel cell system unique?

The Yuchai 125kW system features a proprietary metal plate stack to reduce hydrogen consumption and achieves over 45% energy efficiency.

What is the service life of the Yuchai hydrogen fuel cell systems?

Both the 82kW and 125kW hydrogen fuel cell systems have a service life of over 15,000 hours.

What are the applications of the Yuchai 82kW and 125kW hydrogen fuel cell systems?

The 82kW system suits buses, light trucks, and passenger vehicles, while the 125kW system is for semi-trailers, cargo trucks, and construction machinery.

How do Yuchai's hydrogen fuel cell powertrain systems align with China's sustainability goals?

These systems align with China's 'double carbon' goal by offering high energy efficiency, zero emissions, and low noise.

Who attended the launch ceremony for the Yuchai Xingshunda hydrogen fuel cell buses?

The launch ceremony was held in Beijing, but specific attendees were not mentioned in the PR.