On September 21, Shandong Heavy Industry and BAIC Group signed a strategic cooperation framework agreement, while Weichai Power and Beiqi Foton signed cooperation agreements in parallel, promoting all-round, multi-field cooperation and facilitating high-quality development of the industry. Wang Zhijian, Party Secretary and Chairman of Shandong Heavy Industry; Zhang Jianyong, Party Secretary and Chairman of BAIC Group; and Chang Rui, Deputy Party Secretary, General Manager and Chairman of Beiqi Foton, attended the signing ceremony.
Ma Changhai, Member of the Party Committee and Vice President of Shandong Heavy Industry, Party Secretary and Chairman of Weichai Group, and Chen Wei, Vice President of BAIC Group, signed the strategic cooperation framework agreement between Shandong Heavy Industry and BAIC Group. Wang Decheng, Deputy Party Secretary and General Manager of Weichai Power, and Lu Zhenghua, Party Secretary and General Manager of Beiqi Foton, signed the strategic cooperation agreement between Weichai Power and Beiqi Foton. According to the agreements, both parties will fully leverage their respective industrial portfolio advantages, deepen exchanges and cooperation in areas such as power system core component supply collaboration, new-energy product R&D collaboration, intelligent connected technology integration, and management improvement, jointly promoting the intelligent, green and integrated development of the commercial vehicle industry.
Shandong Heavy Industry and BAIC Group are both key local state-owned enterprises in China with deep industrial foundations and core competitiveness in complete vehicle manufacturing, power systems, and equipment R&D. Their subsidiaries, including Weichai Power and Beiqi Foton, have long carried out business collaboration with a solid cooperation foundation and rich, pragmatic cooperation results.
