With the help of PSI's technology and experience in North America, existing customer base, sales channels and service network, Weichai Power can quickly enter the North American market, positively participate in North American power system market competition, and increase market penetration and brand influence. After the completion of the transaction, Weichai Power will form a strategic partnership with PSI. The two parties will conduct comprehensive and close cooperation in product development, procurement, product sales, and service in North America and China. Weichai Power will use PSI’s technology and experience in North America, existing customer base, sales channels and service network to enter the North American market faster, and to actively participate in the North American power system market competition to increase market penetration and brand influence. Weichai Power will develop all-round cooperation with PSI, especially high-power non-moving engines, to fully realize gas engine technology upgrades. At the same time, Weichai Power has the right to appoint at least 2 directors to the board of directors of PSI, and one of them will be appointed as the chairman of the board of directors, which will effectively ensure Weichai Power's right to speak on major issues of PSI and achieve strategic goals. Tan Xuguang, chairman of Shandong Heavy Industry Group and chairman and chief executive officer of Weichai Power, stated that in recent years, Weichai Power has always adhered to the principle of strategic investment and has invested in North America and Europe through the acquisition of European KION, Linde, and Dematic. The market, in-depth distribution of countries along the "Belt and Road" countries and regions, the layout of the world's major markets has been basically completed. After deep and effective integration, the Group's business structure, regional structure and industrial structure have been continuously optimized, and overseas mergers and acquisitions and globalization strategies have achieved very good results. In the future, we will make full use of the rich strategic resources that we have in place to effectively use global business collaboration to deepen our global strategic markets and continuously increase the Group’s globalization and brand awareness. This investment in PSI Company is a solid step forward for us to enter the global leader and move toward high-end, which will surely play an important strategic role in the long-term development of the Group, enhancing its international competitiveness and brand influence! Towards high-end, spanning a hundred years, and participating in global competition is the historical mission that Weichai Power has unremittingly pursued and bravely bear. This investment in PSI is an important strategic deployment for Weichai Power to actively participate in the global high-end power system market competition. Both parties will focus on strengthening global business collaboration, especially North American market development, and continuously improve Weichai's global business layout and international competitiveness.
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With the help of PSI's technical experience in North America, Weichai Power can enter the North American market faster 
Chairman of Shandong Heavy Industry Group and Chairman and CEO of Weichai Power Tan Xuguang
Recently, Weichai Power invested 60 million U.S. dollars (approximately 413 million U.S. dollars) and signed a share purchase agreement with NASDAQ-listed company Power Solutions International Inc. (hereinafter referred to as PSI), holding 7.5 million shares of its common stock. Its 40.71% of total issued shares became its largest shareholder. According to the agreement, after 18 months from the completion of the aforementioned transaction, Weichai Power may exercise its call option to further increase its shareholding in PSI to 51%.