Honeywell Turbo Technology, the world's leading manufacturer of automotive turbochargers, celebrated the official opening of its new turbocharger plant in Wuhan today. The new plant in Wuhan will triple Honeywellâ€™s turbocharger capacity in China to meet Chinaâ€™s rapidly increasing turbocharger demand. At present, the penetration rate of turbocharged technology in the Chinese new car market is 23%, and this figure will also increase significantly in the future.
â€œWe are very excited about the prospects of the turbocharger market in China. This year, our new products launched in the Chinese market already account for a quarter of our global new products.â€ President and CEO of Honeywell Transportation Systems Group Mr. Han Tailing said: â€œAs China pays more and more attention to energy conservation and emission reduction, turbocharging has turned from a niche technology to a mainstream solution for Chinese consumers. The opening of Wuhan's new plant is our 20 years of deep cultivation. The extension and growth of the turbocharger market in China will help us to serve our local and international customers faster and better, providing them with the most advanced turbocharger technology."
Honeywell Turbo Technology, the world's leading manufacturer of automotive turbochargers, celebrated the official opening of its new turbocharger plant in Wuhan today. The new plant in Wuhan will triple Honeywellâ€™s turbocharger capacity in China to meet Chinaâ€™s rapidly increasing turbocharger demand.
The Chinese government has set a strict fuel economy target and the average fuel consumption will be reduced from 6.9 liters per 100 kilometers in 2015 to 5 litres per 100 kilometers in 2020. This goal is driving China's transformation of the world's largest auto market into the "turbocharged T era." Compared to naturally aspirated gasoline engines with equivalent output power, turbocharged engines can help petrol and diesel vehicles to increase fuel efficiency by 20% and 40%, respectively, and at the same time reduce similar emissions.
Honeywell strategically locates the new plant at one of China's major automotive manufacturing bases. The new Wuhan plant covers an area of â€‹â€‹12,550 square meters, and production capacity is rapidly increasing since the end of 2013.
Mr. Dai Pengjie, vice president and general manager of Honeywell Transportation Systems China and India, said: â€œThe new plant has further deepened our commitment to the Chinese market. We have established China and have established a factory and a world-class technology in Shanghai. The center, which includes our world's second largest turbocharger laboratory, will use the latest production technology to serve passenger car customers, enabling us to better support the turbocharger market in China."
In 1994, Honeywell's Turbocharged Technology Division established its first factory in Shanghai and has produced over 8 million turbochargers in total. Services include medium and heavy trucks, off-road equipment, light commercial vehicles and passenger vehicles. The full range of customers within.
Honeywell Turbocharged Technology is the world's leading manufacturer of automotive turbochargers and is part of the Honeywell Aerospace Group. As the world's leading automotive parts supplier, Honeywell applies the most advanced technology to improve the performance and efficiency of vehicles.
About Honeywell Aerospace Group
Almost all commercial, defense and aviation aircraft on the globe have Honeywell Aerospace Group products and services. Honeywell's turbochargers are also used by almost all automobile and truck manufacturers around the world. Aerospace Group develops innovative solutions to provide aircraft engines, cockpit and cabin electronic equipment, over-the-air wireless network connectivity, logistics and other technologies and products to reduce fuel consumption for automobiles and aircraft, improve on-time flight rates, and enhance flight and runway safety.
Honeywell is a diversified, high-tech, advanced manufacturing company that is one of the Fortune 100 companies. Its global operations include aviation products and services, building, home and industrial control technologies, turbochargers and specialty materials. Honeywell is headquartered in Morristown, New Jersey, USA, and shares are traded on the New York, London and Chicago stock exchanges. Honeywell's history in China dates back to 1935. At that time, Honeywell opened its first distribution agency in Shanghai. Currently, Honeywellâ€™s four major business groups have settled in China, and all Asia-Pacific headquarters of its business units have also been relocated to China, and have set up branches and joint ventures in 20 cities in China. Honeywell employs approximately 12,000 people in China.
This report contains "forward-looking statements" as defined in Section 21E of the United States Securities Exchange Act of 1934. Except for statements of fact, all other statements may be deemed forward-looking statements, that is, actions, events, or developments that we or our management intend to, expect, plan, believe, or anticipate will or may occur in the future. The statement made. Such statements are assumptions and estimates made by our management based on their experience and perception of historical trends, current conditions, expected future development, and other relevant factors. This forward-looking statement does not guarantee future performance. Actual results, developments and business decisions may not be consistent with the forward-looking statements. Our forward-looking statements are also subject to a large number of risks and uncertainties, which may affect our recent and long-term performance. The major risks and uncertainties affecting our performance are described in Form 10-K and other documents submitted to the Securities and Exchange Commission.
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