Weichai Power Co., Ltd announced a strategic cooperation with FISCHER Spindle Group Ltd. ("FISCHER Group") in Switzerland, which includes accomplishment of the investment in its fuel cell compressor business in Swiss and future joint venture in China, aiming to become the world's leading manufacturer in fuel cell compressors.

Through this strategic cooperation, Weichai Power will simultaneously further extend its fuel cell industrial chain and improve its core competitiveness of the fuel cell powertrain system. Prior to this, Weichai Power has already complete strategic investment in Ballard Power and Ceres Power and became the largest shareholder of the both companies, which are global leaders in PEMFC and SOFC solutions respectively. With this strategic positioning into the fuel cell compressor technology, Weichai Power has taken another solid step forward to achieve the goal of becoming “Global leader in New Energy Business”.

The fuel cell compressor is well known as the "lung" of the fuel cell system as it will directly impact the performance of the system and is also one of the most expensive core components of the fuel cell system. At present, it is still a weak point in the development of hydrogen fuel cell power system in China. FISCHER Group specializes in precise, fast and powerful rotation and it is a world technology leader in precision spindle manufacturing, milling heads and compressors which could ensure maximum power density, higher isentropic efficiency and reliability.

Parties will give full play to their mutual strengths, i.e. Weichai Power's strengths in supply chain and industrial resources, such as new energy powertrain system, complete vehicles and machineries. Recently, Weichai Power disclosed a private offering plan to raise RMB2 billion accelerating the enhancement of R&D capabilities and manufacturing capability of the fuel cell industry. Surrounding the targets of "peaking carbon dioxide emissions by 2030 and carbon neutrality by 2060", establishing a world-leading fuel cell industrial park so as to lead the global new energy industry.