The company was founded in 2002 with the former Weifang Diesel Engine Factory as the main sponsor and initiated by domestic and foreign investors. It is the first company in the Chinese internal combustion engine industry to be listed on Hong Kong's H shares, and the first company to achieve an “H-to-A” listing through share exchange, absorption and merger. It has well-known domestic and international brands such as Weichai Power Engine, Shaanxi Auto Heavy Truck, Weichai Loewo Smart Agriculture, Fastest transmission, Hande axle, torch spark plugs, German Kaioh, German Linde Hydraulics, American PSI, French Baudouin, and Canadian Ballard. The company adheres to two-wheel drive in product management and capital operation, and is committed to building products with the three core competitiveness of quality, technology and cost, and has successfully built a new pattern of collaborative development in industrial sectors such as power systems, commercial vehicles, agricultural equipment, and smart logistics. The company's main products include a full range of engines, gearboxes, axles, hydraulic products, heavy vehicles, forklifts, supply chain solutions, fuel cell systems and components, agricultural equipment, automotive electronics and components, etc. The company's honors include winning the National Quality Award in 2007; in 2011, it was awarded the honorary title of “National Enterprise Culture Demonstration Base”; and the company's “WP10/WP12 Series Heavy Duty High-speed Engine and Key Technology” won the Grand Prize for Science and Technology Progress in China's Machinery Industry, etc.