China Yuchai International's Hybrid Engines Acclaimed as China's Leading Models |
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China Yuchai International Limited
16 Raffles Quay, #26-00 Hong Leong Building
Singapore, Singapore
Press release date: August 31, 2010
SINGAPORE -- China Yuchai International Limited (NYSE:CYD) ("China Yuchai" or the "Company"), announced today that at a recent appraisal meeting organized by the Ministry of Science and Technology in Guangxi Province, experts concluded that its main operating subsidiary - Guangxi Yuchai Machinery Company Limited's "commercial vehicle hybrid diesel engine," (YCHPT) has achieved the highest technical standards within China. This is one of GYMCL's projects listed in China's National High-tech Development Program also known as the "863 Program". With this achievement, GYMCL has attained the industry leading position for its hybrid engines matching the performance criteria of the world's top hybrid engines.
GYMCL's commercial vehicle hybrid diesel engine is China's first independently developed commercial uniaxial parallel hybrid engine. The innovative aspects of the hybrid engine include mechatronics design and flexible connection, system-on-a-chip (SOC) self-learning, intelligent shift control manual transmission, clutch shift and high-efficiency energy recycling technology.
Hybrid vehicle engines are key to increasing fuel efficiency and reducing diesel engine emissions. Since its commercial introduction in April 2009, YCHPT hybrid diesel engines have reached the 10 million kilometers mileage mark demonstrating their reliability with an average energy savings of approximately 20% compared with standard diesel engines. The automotive industry's leading expert, Mr. Wang Binggang believes that the energy efficiency characteristics and costs of GYMCL's hybrid engines have become increasingly comparable to foreign brands.
Mr. Boo Guan Saw, President of China Yuchai, commented, "This acknowledgement by the Ministry of Science and Technology is a strong endorsement of our superior research and development efforts. Until we introduced our hybrid diesel engines, foreign brands dominated the Chinese bus market, but now our new hybrid products will allow us to compete directly with them. As production economies-of-scale are realized, we expect our hybrid products to offer even better value in the diesel engine market. Our new research and development institute at Nanning will allow us to continually extend our lead in diesel engine technology and design."
About China Yuchai International
China Yuchai International Limited, through its subsidiary, Guangxi Yuchai Machinery Company Limited ("GYMCL"), engages in the manufacture, assembly, and sale of a wide array of light-duty, medium-sized and heavy-duty diesel engines for construction equipment, trucks, buses, and cars in China. GYMCL also produces diesel power generators, which are primarily used in the construction and mining industries. Through its regional sales offices and authorized customer service centers, the Company distributes its diesel engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China. Founded in 1951, GYMCL has established a reputable brand name, strong research & development team and significant market share in China with high-quality products and reliable after-sales support. In 2009, GYMCL sold 467,899 diesel engines and was consistently ranked No. 1 in unit sales by the China Association of Automobile Manufacturers. For more information, please visit http://www.cyilimited.com/
For more information, please contact:
Kevin Theiss / Dixon Chen Grayling Tel: +1-646-284-9409 Email: kevin.theiss@grayling.comdixon.chen@grayling.com
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