Weichai Power became the first Chinese company to become an official global sponsor of the Ferrari F1 team in February, 2012. In April, 2013, Weichai Power and the Ferrari F1 team officially established a strategic alliance between the two brands. The strategic alliance between the two brands will expand cooperation in more domains based on the platform of the F1 team and establish a model of mutual benefit between two excellent enterprises. Tan Xuguang, president of Weichai Power, indicated that Weichai’s sponsorship for Ferrari F1 Team creates an excellent start for the strategic cooperation between both sides, and the two sides plan to develop more specific cooperation projects in the future.
Weichai Power is the leading brand of Chinese industrial enterprises. Weichai Power’s business scope continues to expand, including its global presence. In 2012, Weichai Group acquired the majority ownership of Ferretti luxury yachts and signed a strategic cooperation agreement with Germany’s Kion Group, one of the global leading industrial forklift manufacturers and the world’s leader of hydraulic technology. Currently, Weichai has branches and offices in US, Singapore, India, Russia, France, Italy, German and other countries.
Weichai Power Co., Ltd. Profile
Weichai Power Co., Ltd. HK2338, SZ000338 is a leading automotive and equipment manufacturer in China with four major business segments – vehicle, powertrain (engines, transmissions and axles), automotive electronics and parts, and yacht. Weichai’s products have the most complete coverage in the Chinese automobile industry. Weichai Power is the leader of high speed and high power engines, heavy-duty transmissions and spark plugs in China. The heavy-duty axle is regarded as the top brand in China, and the heavy-duty truck was ranked fourth in China. Weichai Power is listed in Hong Kong and Shenzhen. Weichai Power sales in 2012 was 73.4 billion RMB with a profit of 3.87 billion RMB.
Ferrari Motor Company Profile
Ferrari is an Italian automobile manufacturer with its headquarters located in Maranello, Italy. Ferrari was founded by Enzo Ferrari in 1929, and mainly manufactured Formula One racing, motor racing and high-performance sports cars. With annual production of over 7,000 units, most of Ferrari cars were manufactured manually. Ferrari team is the first-class team in Formula one World Championships, winning 16 constructors’ championships and 15 driver’s championships in total. As the 2013 Formula one Grand Prix – Chinese station will be held in Shanghai, Ferrari team will participate this April.