-The Government withdrew the encouragement policy of buying automobiles, leading to the decrease of sales. In 2011, the Company sold 318,4000 engines for heavy trucks, with a decrease of 23.09%, but its market share was 36.16%. Shaanxi Fast Gear Co., Ltd., a subsidiary of the Company, sold 701,200 transmissions, with a reduction of 17.74%.(From the Company's 2011 annual report)

Joint-venture company

-Shaanxi Fast Gear Co., Ltd., a subsidiary of the Company, and Caterpillar Investment Co., Ltd. will establish a joint business to produce commercial vehicle transmissions at the Xi’an High Tech Industries Development Zone. The new company, which will be tentatively called Xi'an FC Intelligence Transmission Co., Ltd. and be capitalized at 500 million yuan, will be owned 51 percent by Shaanxi Fast Gear, 45 percent by Caterpillar, and 4 percent by Shaanxi Fast Auto Drive Group Company. The Xi’an facility will develop, produce, and sell automatic transmissions, intelligent transmission devices, and other transmission products for commercial vehicles. Shaanxi Fast Gear is a joint-venture company between Weichai Power Co., Ltd. and Shaanxi Fast Auto Drive Group Company. (From a press release, April 9, 2011)

Expand capacity

-The Company has started commercial production of two diesel engines, the Landking WP12 and WP10, on the newly completed, two production lines at its plant No.2. The second production line for the WP12 engines features enhanced automation level, new online inspection equipment, and an improved quality assurance system, with the capacity to produce 100,000 engines a year. The combined annual production capacity at the plant No.2 will thereby increase to 200,000 engines. The expansion allows the company to assemble engines that are compliant to the China lll, lV, and V emissions standards at a single plant. (From news releases issued by multiple sources on September 16, 2011)

-On November 28, 2011, the Company held a signing ceremony to build a passenger vehicle production facility at the Chongqing Jiangjin Degan Industrial Park. It also held a groundbreaking ceremony for its heavy-duty diesel engine plant at the same park. The company is investing 6 billion yuan in the engine facility project, planning to ensure the capacity to produce engines for 500,000 heavy-duty vehicles and construction machinery a year by 2020, which is worth 30 billion yuan. The construction program for a new passenger vehicle plant called the Weichai Jiachuan Project will begin as early as the end of this year, with the completion of its first phase scheduled to take place by the end of 2012. This facility will have production lines to assemble mini vehicles, mini buses, and SUVs. It will initially manufacture 100,000 vehicles a year, increasing the volume to 300,000 vehicles by 2015, which is worth 10 billion yuan. (From press release, December 6, 2011)

Subsidiary's performance 

-Zhuzhou Torch Spark Plug Co., Ltd., which is a subsidiary of the Company produced 134 million spark plugs in 2010, which was an increase of 37 percent from the previous year's volume. Sales rose 32 percent year-on-year, hitting the all-time high figure. The company thereby took the first place in the Chinese spark plug market for the eighth straight year. During 2010, the company started supplying spark plugs to the Chinese facility of Fuji Heavy Industries, Ltd., tapping into the market captured by Japanese major suppliers such as NGK and Denso. The company also won exclusive supply contracts to provide iridium and platinum plugs to Changan Ford, Chery Automobile, Brilliance Auto, and Haima Automobile. In addition, it began supplying high power cables to Geely Automobile. (From a press release, February 14, 2011)

-Zhuzhou Gear Co., Ltd., a subsidiary of the Company, started assembling transmissions on its new, automated production line at the end of November 2011. The company invested 15 million yuan in the new production line, as it aims to sell 300,000 transmissions for passenger vehicles during 2012. (From a press release, December 1, 2011)

Investment in China
-On November 28, 2011, the Company held a signing ceremony to build a passenger vehicle production facility at the Chongqing Jiangjin Degan Industrial Park. It also held a groundbreaking ceremony for its heavy-duty diesel engine plant at the same park. The company is investing 6 billion yuan in the engine facility project, planning to ensure the capacity to produce engines for 500,000 heavy-duty vehicles and construction machinery a year by 2020, which is worth 30 billion yuan. The construction program for a new passenger vehicle plant called the Weichai Jiachuan Project will begin as early as the end of this year, with the completion of its first phase scheduled to take place by the end of 2012. This facility will have production lines to assemble mini vehicles, mini buses, and SUVs. It will initially manufacture 100,000 vehicles a year, increasing the volume to 300,000 vehicles by 2015, which is worth 10 billion yuan. (From press release, December 6, 2011)