China Yuchai International Limited (NYSE: CYD) ("China Yuchai" or the "Company") one of the largest powertrain solution manufacturers through its main operating subsidiary in China, Guangxi Yuchai Machinery Company Limited ("Yuchai"), today announced that Yuchai Machinery Power System (Thailand) Co., Ltd. ("Yuchai Thailand") commenced production operations as the first K08 engine from the Thailand factory rolled off the production line and was delivered to its customer. Senior executives from Foton Motor, SANY, Zoomlion, and Liugong attended the commencement of production.
Yuchai Thailand will mainly produce a range of diesel engines, natural gas engines, new energy power products and other products. Various series of Yuchai products will be manufactured and the first group of products include the K08, S06 and S04 series of engines. Annual production capacity will begin at 5,000 units and will expand to meet future market demand.
Yuchai's globalization has been accelerating over the past decade due to the growing cooperation between China and ASEAN countries. Yuchai's direct and indirect export volume to ASEAN countries has increased to more than 20,000 units per year, accounting for a large share of Yuchai's overseas sales.
Yuchai Thailand further strengthens Yuchai's alliances with important partners such as Foton Motor, enhances product competitiveness, and increases penetration into the Southeast Asian markets.
Mr. Weng Ming Hoh, President of China Yuchai, commented, "Yuchai Thailand is an important stepping stone to increase Yuchai's share of the ASEAN markets, solidify our partnerships with OEM customers and enhance our foundation for greater global growth."
