SINGAPORE, Feb. 20,
2025 /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 had entered into a comprehensive strategic
cooperation agreement with Kim Long Motor Hue ("Kim Long Motor"), a
subsidiary of Vietnam's FUTA
Group. The scope of the strategic cooperation consists of the
grant and provision of technology licenses, component supply and
related support, and services for the construction of an engine
factory at Kim Long Motor's designated site in Vietnam.
Yuchai has granted Kim Long Motor the technology licensing
rights for certain model engine series. These engine models will be
manufactured primarily for trucks, buses and other commercial
vehicles in Vietnam. Kim
Long Motor will have exclusive sales rights for the licensed
engines in the Vietnam market,
along with priority sales rights in other Asean countries and
South Korea. Additionally, Kim
Long Motor has aftermarket service rights in these countries. These
licenses are valid for 15 years, with total licensing fees of
US$28 million.
Yuchai will support the construction of the engine factory in
Vietnam by providing technical
services for equipment installation and commissioning at Kim Long
Motor's expense. Yuchai will also supply all engine assembly
parts and service kits for these engines manufactured by Kim Long
Motor in Vietnam.
Mr. Weng Ming Hoh, President of
China Yuchai, commented, "This cooperation agreement is an
important project to further penetrate the important ASEAN-Korean
trade areas, and supports our global growth."
About Kim Long
(https://kimlongmotor.com.vn)
KIM LONG MOTOR specializes in automobile manufacturing,
assembly, and trading; automotive parts and components
manufacturing; and industrial park infrastructure trading. The KIM
LONG MOTOR Hue Automotive Manufacturing and Assembly Industrial
Zone is a comprehensive complex comprising bus, minibus, truck,
passenger car assembly plants, and facilities for manufacturing
engines, axles, gearboxes, chassis cutting, and automotive
technology support industries.
About China Yuchai International
China Yuchai International Limited, through its subsidiary
Guangxi Yuchai Machinery Company Limited ("Yuchai"), is one of the
leading powertrain solution providers in China. Yuchai specializes in the design,
manufacture, assembly, and sale of a wide variety of light-,
medium- and heavy-duty engines for trucks, buses, pickups,
construction and agricultural equipment, and marine and power
generation applications. Yuchai offers a comprehensive
portfolio of powertrain solutions, including but not limited to
diesel, natural gas, and new energy products such as pure electric,
range extenders, and hybrid and fuel cell systems. Through
its extensive network of regional sales offices and authorized
customer service centers, Yuchai distributes its engines directly
to auto OEMs and distributors while providing after-sales services
across China and globally.
Founded in 1951, Yuchai has established a reputable brand name,
strong research and development team, and significant market share
in China. Known for its
high-quality products and reliable after-sales support, Yuchai has
also expanded its footprint into overseas markets. 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 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.
For more information:
Investor Relations
Kevin Theiss
Tel: +1-212-510-8922
Email: cyd@bluefocus.com
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SOURCE China Yuchai International
