Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Credit
Company

China's Weichai Power buys stake in German, Austrian companies

January 16, 2020


Abstract : Weichai Power Co., Ltd., a leading Chinese powertrain producer, signed agreements with Germany's ARADEX AG and Austria's VDS Holding GmbH Wednesday in Jinan, east China's Shandong Province.

JINAN, Jan. 15 (Xinhua) -- Weichai Power Co., Ltd., a leading Chinese powertrain producer, signed agreements with Germany's ARADEX AG and Austria's VDS Holding GmbH Wednesday in Jinan, east China's Shandong Province.

Weichai Power acquired an 80 percent stake of ARADEX AG and planned to acquire a 51 percent stake of VDS, making Weichai Power the controlling shareholder of the two companies, according to the agreements.

Tan Xuguang, chairman of Weichai Power, said the two acquisitions will effectively improve China's key technical weaknesses related to the electric motor control systems of new energy powertrains and CVT powertrain systems of agricultural equipment.

Following the acquisition of stakes in Ballard Power Systems, a Canadian provider of clean energy products and British solid oxide fuel cell maker Ceres Power, Weichai Power's investment in ARADEX is another international strategic attempt in the field of new energy powertrain systems, according to the company.

Founded in 1989, ARADEX focuses on the research and development of electric motors, control systems and energy storage for industry and transportation.

VDS is a technology development company specializing in powertrain systems for vehicles.

Scan the QR code and push it to your mobile phone

Keyword: Weichai Power

Reading:

Debt-asset ratio at China's central SOEs down in 2019

Panda Bond: € 10 million to EuroGrup Lamitation to grow in China

China's Wuhan to add 100,000 charging piles for NEVs

China Focus: Economic powerhouse Guangdong seeks innovative, high-quality development

Economic Watch: Tough 2019 brings out China's resilience in foreign trade

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial