PSI is ready to enter the new year and new decade in a stronger position with its strategic partnership with Weichai. Our sales have grown from about $340 million in 2016 to nearly $500 million in 2018, a remarkable accomplishment of growth! Further, based on preliminary guidance to the market, higher sales are expected for 2019, with a substantial improvement in profitability to coincide with the top line results. With the addition of numerous natural gas and Diesel engines as a result of the Weichai collaboration, couple with the strengthening of our sales teams over the past two years, we believe the long-term prospects for PSI’s future growth only get enhanced, said Dr. Sherman Sun, PSI board chairman.
Our product development efforts since the beginning of the alliance with Weichai are plentiful.
Highlights include:
- Receiving EPA certifications in 2018 for our 32-liter and 40-liter base gas engines serving the North American market;
- Receiving EPA certifications for our new 20-, 40- and 53-liter diesel engines in September 2019;
- Ongoing development of 53- and 65-liter gas engines for North America;
- Developing 10-, 13-, and 17-liter diesel engines for North America; and
- Introducing 4.5-, 6.7-, 10-, 13-, 17- and 20-liter gas products into PSI’s portfolio.
Collectively, these efforts will bring new opportunities to PSI and Weichai continues to support us in our efforts moving forward.
