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.
- 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.