Weichai Power and BYD Sign Strategic Cooperation Agreement

On the morning of May 12, 2023, Weichai Power and BYD signed a strategic cooperation agreement in Shenzhen. Tan Xuguang, Chairman and CEO of Weichai Power, and Wang Chuanfu, Chairman and President of BYD, attended and witnessed the signing of the agreement. Wang Decheng, Weichai Power Executive President, and He Long, BYD Group Vice President signed the strategic cooperation agreement on behalf of both parties.

Both parties intend to establish a more comprehensive and in-depth strategic partnership in new energy field with their respective strengths, to produce power batteries in a joint venture in Shandong, build a power battery R&D and manufacturing base, then strengthen the new energy industry chain, innovation chain and value chain, and make positive contributions to the industrial development of new energy commercial vehicles in China.