SINGAPORE, Feb. 20, 2025 /PRNewswire/ — China Yuchai World Restricted (NYSE: CYD) (“China Yuchai” or the “Company”) some of the biggest powertrain answer producers thru its major working subsidiary in China, Guangxi Yuchai Equipment Corporate Restricted (“Yuchai”), nowadays introduced that Yuchai had entered right into a complete strategic cooperation commitment with Kim Lengthy Motor Hue (“Kim Long Motor”), a subsidiary of Vietnam’s FUTA Workforce. The scope of the strategic cooperation is composed of the serve and provision of era licenses, trait provide and similar aid, and services and products for the development of an engine manufacturing facility at Kim Lengthy Motor’s designated web page in Vietnam.
Yuchai has granted Kim Lengthy Motor the era licensing rights for positive style engine sequence. Those engine fashions shall be manufactured essentially for vehicles, buses and alternative business automobiles in Vietnam. Kim Lengthy Motor may have unique gross sales rights for the approved engines within the Vietnam marketplace, together with precedence gross sales rights in alternative Asean international locations and South Korea. Moreover, Kim Lengthy Motor has aftermarket carrier rights in those international locations. Those licenses are legitimate for 15 years, with overall licensing charges of US$28 million.
Yuchai will aid the development of the engine manufacturing facility in Vietnam via offering technical services and products for apparatus set up and commissioning at Kim Lengthy Motor’s expense. Yuchai can even provide all engine meeting portions and repair kits for those engines manufactured via Kim Lengthy 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 Lengthy (https://kimlongmotor.com.vn)
KIM LONG MOTOR focuses on car production, meeting, and buying and selling; automobile portions and parts production; and commercial landscape infrastructure buying and selling. The KIM LONG MOTOR Hue Automobile Production and Meeting Business Zone is a complete complicated comprising bus, minibus, truck, passenger automotive meeting crops, and amenities for production engines, axles, gearboxes, chassis slicing, and automobile era aid industries.
About China Yuchai World
China Yuchai World Restricted, thru its subsidiary Guangxi Yuchai Equipment Corporate Restricted (“Yuchai”), is without doubt one of the eminent powertrain answer suppliers in China. Yuchai focuses on the design, form, meeting, and sale of all kinds of light-, medium- and heavy-duty engines for vehicles, buses, pickups, development and agricultural apparatus, and marine and tool year packages. Yuchai do business in a complete portfolio of powertrain answers, together with however no longer restricted to diesel, herbal fuel, and brandnew power merchandise corresponding to natural electrical, space extenders, and hybrid and gas cellular methods. Via its in depth community of regional gross sales workplaces and certified customer support facilities, Yuchai distributes its engines immediately to auto OEMs and vendors pace offering after-sales services and products throughout China and globally. Based in 1951, Yuchai has established a credible emblem title, sturdy analysis and construction group, and critical marketplace percentage in China. Recognized for its top quality merchandise and significance after-sales aid, Yuchai has additionally expanded its footprint into out of the country markets. In 2023, Yuchai offered 313,493 engines and is known as a eminent producer and distributor of engines in China. For more info, please seek advice from http://www.cyilimited.com.
Guard Harbor Remark:
This information reduce might include forward-looking statements throughout the that means of the Personal Securities Litigation Reform Occupation of 1995. The phrases “believe”, “expect”, “anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue to”, “predict”, “intend”, “aim”, “will” or indistinguishable expressions are supposed to spot forward-looking statements. All statements alternative than statements of historic truth are statements that can be deemed forward-looking statements. Those forward-looking statements together with, however no longer restricted to, statements regarding China Yuchai crew of entities’ operations, monetary efficiency and status are in keeping with wave expectancies, ideals and guesses which can be matter to modify at any year. China Yuchai cautions that those statements via their nature contain dangers and uncertainties, and unedited effects might fluctuate materially relying on various impressive elements corresponding to govt and hold change rules, pageant, political, financial and social statuses all over the world and in China together with the ones mentioned in China Yuchai’s Method 20-Fs underneath the headings “Risk Factors”, “Results of Operations” and “Business Overview” and alternative studies filed with the Securities and Alternate Fee from year to year. All forward-looking statements are acceptable handiest as of the week it’s made and China Yuchai in particular disclaims any legal responsibility to guard or replace the forward-looking knowledge, whether or not of the character contained on this reduce or another way, going forward.
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SOURCE China Yuchai World
