On October 8, Weichai Power and Lingong Heavy Machinery inked a strategic cooperation framework agreement in Jinan. Wang Zhijian, the Secretary of the Party Committee and Chairman of Shandong Heavy Industry Group, along with Yu Mengsheng, Chairman of Lingong Heavy Machinery, participated in the discussions. Wang Decheng, General Manager of Weichai Power, and Yu Mengsheng jointly witnessed the signing ceremony. The two parties expressed their commitment to deepening collaboration in areas such as the integration of traditional and new energy power systems, new product development, joint quality system construction, and shared global service networks, thereby fostering the seamless integration of construction machinery systems and power systems.

Both Weichai Power and Lingong Heavy Machinery are part of the Shandong Heavy Industry Group and have a long history of cooperation. In 2022, they signed a strategic cooperation agreement, and this latest signing represents an iterative upgrade of their existing partnership. Weichai Power is a leader in the domestic heavy-duty engine market, maintaining the top market share for commercial vehicle engines in 2025. It anticipates a 170% year-on-year increase in sales of new energy power batteries and has established a comprehensive industrial chain encompassing power batteries, motors, electronic controls, and electric drive assemblies. Lingong Heavy Machinery specializes in mining machinery, aerial work machinery, and material handling machinery, leading global sales of mining trucks. In 2025, its overseas revenue accounted for 51.3%, surpassing domestic revenue for the first time, with products distributed across more than 100 countries and regions worldwide.

From a cooperation standpoint, the two companies are highly complementary. Lingong Heavy Machinery is accelerating the electrification and intelligence of its mining equipment, having developed approximately 30 electric products covering pure electric and hybrid power routes. It has also constructed a dedicated vehicle networking platform, achieving networking for over 41,000 mining equipment units. However, its three-electric systems (battery, motor, electronic control) have previously relied more on external suppliers, including collaborations with companies such as CATL and Microvast. Weichai Power, on the other hand, possesses comprehensive new energy powertrain capabilities and is eager to penetrate the construction machinery market through downstream complete machine manufacturers. This partnership positions Weichai as a potential core power supplier for Lingong Heavy Machinery's new energy mining trucks, aerial work platforms, and material handling equipment.

What is particularly noteworthy is the significant potential for collaboration between the two parties in overseas markets. Lingong Heavy Machinery has established a smart manufacturing base in Mexico and is accelerating its global expansion. Weichai Power is also deploying a global service network in locations such as Indonesia and Mexico and has introduced an integrated mining solution in the Indonesian market that combines "power - complete machines - energy supply - intelligent operation and maintenance." If the two companies can share channels and service systems, it will help reduce overseas operating costs and enhance the competitiveness of their complete solutions.

This cooperation also underscores the accelerated electrification transformation within the construction machinery industry. Mining scenarios, characterized by fixed routes, high operational intensity, and customer sensitivity to ton-kilometer costs, are among the most conducive environments for the adoption of new energy equipment. Weichai provides the powertrain, while Lingong Heavy Machinery offers the complete vehicle platform and scenario-specific expertise. Through deep integration, the two companies are expected to develop more cost-effective complete solutions in areas such as new energy mining trucks and unmanned mines.