WEIFANG, China, Feb. 2, 2024 /PRNewswire/ -- On February 2nd, Weichai Group held the 2024 Technology Incentive and Commendation Conference, granting 65 million yuan in recognition of significant scientific research achievements and exceptional tech talent within the company. Tan Xuguang, Chairman of Shandong Heavy Industry Group and Weichai Group, delivered a speech on the progress in science and technology innovation, outlined the strategic plans for future technological advancements, and emphasized the commitment to promoting the engineer's spirit. During his speech, Mr. Tan also highlighted the group's accelerated effort to become a world-class leader in science and technology.

Weichai Group, a prominent industrial equipment multinational conglomerate based in China, has established a significant global presence, with business spanning six key segments—power systems, commercial vehicles, agricultural equipment, construction machinery, smart logistics, and marine transportation equipment. Over the past few years, the company has made substantial investment in technological innovation, with the aim of constructing a world-leading innovation platform, developing forward-thinking policies and fostering a pioneering ecosystem. With the establishment of state-of-the-art innovation centers across the globe, the group has built a global network for collaborative research and development, leading to numerous significant technological breakthroughs. Among these achievements, Weichai has successively surpassed the 50%, 51% and 52% milestones in the thermal efficiency of diesel engines within three years, positioning it a world leader in this regard.

Since 1998, Weichai Group has consistently convened the biennial Technology Incentive and Commendation Conference, marking the 11th consecutive session of this event. During each of the past three conferences, the company has awarded hundreds of millions of yuan to honor achievements in science and technology. This initiative has been instrumental in building a robust team of technological professionals and fueling their innovative spirit. By doing so, the firm has been dedicated to forging world-class product competitiveness and creating greater value for its customers.