Yuchai Appointed as Committee Member of New Hydrogen Innovation Consortium

Rhea-AI Summary

China Yuchai International (NYSE: CYD) announced that its subsidiary, Yuchai, has been appointed as a Committee Member of the new Hydrogen Combustion Engine Innovation Consortium. This Consortium aims to develop hydrogen combustion engines for various industries in line with China's 'double carbon' goals. Yuchai's expertise in hydrogen combustion engines has led to its appointment, with a focus on contributing to China's low-carbon and zero-carbon internal combustion engine development.

Yuchai has been a pioneer in hybrid power systems and new energy products, releasing several new energy power system products in 2019. The company's engines using alternative fuels like hydrogen will support China's emission reduction goals. At the 2024 World Internal Combustion Engine Conference, Yuchai showcased its progress in hydrogen engine research and development, aligning with China's carbon neutrality objectives.

Positive

• Yuchai's appointment as a Committee Member of the Hydrogen Combustion Engine Innovation Consortium highlights the company's expertise in developing hydrogen combustion engines.

• The collaboration with the Consortium demonstrates Yuchai's commitment to contributing to the advancement of low-carbon and zero-carbon internal combustion engines in China.

• Yuchai's success in developing China's first hydrogen combustion-powered engine and the launch of its heavy-duty hydrogen combustion engine emphasize the company's leadership in the field.

• Yuchai's focus on alternative fuels like hydrogen aligns with China's emission reduction goals and showcases its dedication to sustainable energy solutions.

Negative

• None.

SINGAPORE, May 8, 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"), today announced that Yuchai was recently appointed as a Committee Member of the new Hydrogen Combustion Engine Innovation Consortium ("Consortium") division of the China Internal Combustion Engine Society. The Consortium, established under the guidance of the China Association for Science and Technology and the Ministry of Industry and Information Technology, led by the national "double carbon" goals, will further advance the technology development of hydrogen combustion engines for applications in the automobile, power generation, marine, industrial and agricultural industries.

Given its success in developing China's first hydrogen combustion-powered engine, model YCK05H, in December 2021, and the launch of its YCK16H heavy-duty in-cylinder direct injection hydrogen combustion engine in June 2022, Yuchai has emerged as one of China's pioneering domestic hydrogen combustion engine manufacturers. With its expertise in the field of hydrogen combustion engines, Yuchai was thus duly appointed as a committee member of the Consortium that is leading the research and development of hydrogen-powered engines for commercial vehicles in China. Yuchai will collaborate with members of the Consortium to contribute to the development of China's low-carbon and zero-carbon internal combustion engines.

Yuchai has been one of China's first powertrain producers to enter the field of hybrid power systems and other new energy products. In 2019, Yuchai released four new energy power system products including an integrated generator engine powertrain, an eCVT power split hybrid powertrain, an integrated electric drive axle assembly, and fuel cell systems. Yuchai's engines using alternative fuels such as hydrogen, will contribute considerably to support China's strategy of "achieving carbon peak emission by 2030 and achieving carbon neutrality by 2060". At the 2024 World Internal Combustion Engine Conference, Yuchai demonstrated notable progress in hydrogen engine research and development. 

Mr. Weng Ming Hoh, President of China Yuchai, said, "The Consortium's collaborative approach is bringing together more resources to enhance this revolutionary transformation to alternative low-carbon and zero-carbon fuel combustion engines. This initiative aligns Yuchai with China's carbon neutrality goals and showcases the potential for alternative fuels to be a key player in the reduction of air pollution for the future of the energy and transportation industries."

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 is the significance of Yuchai's appointment as a Committee Member of the Hydrogen Combustion Engine Innovation Consortium?

Yuchai's appointment highlights its expertise in hydrogen combustion engines and commitment to developing low-carbon and zero-carbon internal combustion engines in China.

What new products has Yuchai released in the field of new energy?

In 2019, Yuchai released several new energy power system products, including integrated generator engine powertrains, eCVT power split hybrid powertrains, integrated electric drive axle assemblies, and fuel cell systems.

What did Yuchai showcase at the 2024 World Internal Combustion Engine Conference?

At the conference, Yuchai demonstrated significant progress in hydrogen engine research and development, reflecting its alignment with China's carbon neutrality objectives.