QINGDAO, June 11 (Xinhua) -- Weichai Group, one of the biggest automobile and equipment manufacturing groups in China, saw 40 percent of its total annual revenue from the overseas markets in 2017, said an official of the group.
In 2017, the group achieved annual revenue of more than 220 billion yuan.
In recent years, Weichai has focused on development in the countries along the Belt and Road routes.
In April this year, construction of the MAZ-Weichai engine factory, a joint venture established by the Belarusian automotive engineering company MAZ and Weichai, kicked off at the China-Belarus industrial park in Minsk, the capital city of Belarus.
The factory is expected to commence production at the end of November this year. It can produce 20,000 engines per year and create about 140 jobs to the local community.
In addition, Weichai has also established technology innovation centers in Frankfurt, Chicago, and Tokyo, and built in-depth strategic cooperation with famous companies and research institutes including Bosch, a world-leading auto parts company in Germany, AVL, an authoritative internal combustion engine R&D institution in Austria, and Germany-based FEV, as well as Massachusetts Institute of Technology (MIT) and the Germany-based RWTH Aachen University.
Headquartered in Weifang, a neighboring city of Qingdao where the 18th Shanghai Cooperation Organization Summit was held, Weichai Group strives to achieve 100 billion yuan of revenue by 2030, said the group. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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