Weichai Group Invests in Qingdao to Build a High-end Manufacturing Industry Cluster in the Central City of Shandong Peninsula

　　At 8:00 am on December 31, 2021, Qingdao Government and Weichai Group signed a strategic cooperation memorandum and agreed on Weichai Power’s Global Future Technology R&D Center, Weichai Power (Qingdao) Technology Incubation Center, Weichai (Qingdao) Marine Equipment manufacturing center and other projects in a package of strategic cooperation agreements. Lu Zhiyuan, member of the Standing Committee of Shandong Provincial CPC Committee and Secretary of Qingdao Municipal CPC Committee, Zhao Haozhi, Deputy Secretary of Qingdao Municipal CPC Committee and Mayor, Secretary of CPC Committee and Chairman of Shandong Heavy Industry Group, and Chairman of Weichai Group Tan Xuguang attended the event and witnessed the signing.

　　This investment of Weichai Group plans to take Qingdao as the center and form a radial linkage with peninsula city clusters such as Weifang, Yantai, Weihai, Rizhao, and create a new industrial cluster of high-end manufacturing along the coast of Shandong Peninsula. According to the memorandum of cooperation and strategic cooperation agreement, Weichai will build a global future technology research and development center and technology incubation center in Qingdao, and implement new energy key components and marine equipment manufacturing projects. The total investment in the industrial cluster is expected to exceed 5 billion yuan. Especially in the field of new energy, the two parties will focus on exploring the promotion and application scenarios of fuel cell dump trucks, port tractors, buses, logistics vehicles, and sanitation vehicles to create an "Oriental Hydrogen Island" and help fulfill China’s carbon strategy.

　　Tan Xuguang said that Weichai Group will give full play to its global diversified business layout advantages, introduce high-tech and high-level talents to take root in Qingdao, drive domestic and foreign advanced enterprises to invest in Qingdao, promote the synergetic development of high-end equipment manufacturing industry chains, and help Shandong to transform to accelerate the rise of industrial clusters with strong modern advantages.