Honeywell (NYSE: HON), the world’s leading manufacturer of automotive turbochargers , signed a long-term strategic cooperation agreement with well-known Chinese diesel engine manufacturer Guangxi Yuchai Machinery Co., Ltd. Achieve consensus through extensive cooperation with Honeywell's top turbocharger technology to develop high-performance diesel engines.
Honeywell Signs Long-Term Strategic Cooperation Agreement with Yuchai
According to the agreement, the two parties resolved to establish long-term and mutually beneficial cooperation through their respective technical expertise, quality advantages, and market experience. Honeywell will provide Yuchai with its cutting-edge turbine technology to help it develop high-performance diesel engines and enhance the core competitiveness of Yuchai products in terms of performance and cost.
Alex Ismail, President and CEO of Honeywell Transportation Group, frankly stated: “This long-term strategic cooperation agreement has laid a solid foundation for further cooperation between Honeywell Turbo Technology and Yuchai. The cooperation also highlights Honeywell’s commitment and determination to significantly increase vehicle fuel efficiency and reduce emissions, which is an important strategic business partner of Honeywell Turbo Technology and we are very optimistic about both. The prospect of mutually beneficial cooperation."
In addition, Yuchai and Honeywell will jointly develop turbocharger products for the Chinese market.
Mr. Yu Ping, chairman of Yuchai, said: "As the manufacturing base of the most comprehensive internal combustion engine products and the manufacturer of small and medium-sized hydraulic excavators, Yuchai has always been committed to providing the most satisfactory products and services to users at home and abroad. Honeywell's cooperation has been more than a decade old and has been very enjoyable. The signing of this strategic agreement will help Honeywell's advanced technology and Yuchai's local market experience to be further integrated, thus promoting both parties. In the next few years, we will continue to develop steadily."
Honeywell Turbo Technology is a division of the Honeywell Transportation Systems Group. As a leading automotive supplier, Honeywell Transportation Systems Group focuses on improving vehicle performance, efficiency, and appearance through leading-edge technology, world-class brands, and customized solutions for global automotive customers.
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