Westport Fuel Systems Clarifies Statements Regarding the Chinese Certification of Weichai Westport’s WP12HPDI Natural Gas E...
September 23 2020 - 8:30AM
Westport Fuel Systems Inc. (“
Westport Fuel
Systems”) (TSX:WPRT / Nasdaq:WPRT) today issued a
statement to clarify market news regarding its Weichai Westport
Inc. (“
WWI”) joint venture and WWI's 12-liter
engine equipped with the HPDI 2.0™ fuel system
(“
WP12HPDI”).
As previously disclosed, certification for the
WP12HPDI engine has been obtained from the Ministry of Ecology
and Environment (“MEE”) of the People’s Republic
of China. This is an important step in the process of bringing HPDI
2.0 to the Chinese commercial vehicle market. The engine
certification is required in order to complete vehicle
certification, leading to marketing and sales of HPDI equipped
engines by WWI to Chinese vehicle OEMs. As a publicly traded
company, Westport Fuel Systems is required to inform the market of
material developments. The MEE certification of the WWI HPDI
2.0 equipped engine is a significant milestone in Westport’s
commitment to bring HPDI to the Chinese market and as a result is
considered material to Westport Fuel Systems.
“We are committed to open, timely and
transparent disclosure to our stakeholders,” said David M. Johnson,
Chief Executive Officer of Westport Fuel Systems. “Of course, an
important step after engine certification is vehicle certification,
which we understand is in process with WWI’s vehicle OEM customers.
Having achieved the milestone of engine certification, and
anticipating the next significant milestone of vehicle
certification, we are encouraged by the progress we are making to
bring HPDI to the Chinese market. We value our longstanding JV with
Weichai, the world’s leading manufacturer of natural gas engines
for commercial vehicles, and Westport Fuel Systems is committed to
their continued success.”
Westport Fuel Systems has agreed to supply
critical HPDI 2.0 components to WWI, each of which is required for
every engine equipped with HPDI and sold by WWI.
Weichai Power and WWI are affiliates of the
Weichai Holding Group Co., Ltd.
About Westport Fuel SystemsAt
Westport Fuel Systems, we are driving innovation to power a cleaner
tomorrow. We are a leading supplier of advanced fuel delivery
components and systems for clean, low-carbon fuels such as natural
gas, renewable natural gas, propane, and hydrogen to the global
automotive industry. Our technology delivers the performance and
fuel efficiency required by transportation applications and the
environmental benefits that address climate change and urban air
quality challenges. Headquartered in Vancouver, Canada, with
operations in Europe, Asia, North America and South America, we
serve our customers in more than 70 countries with leading global
transportation brands. At Westport Fuel Systems, we think ahead.
For more information, visit www.wfsinc.com.
Investor Inquiries:Shawn
SeversonInvestor RelationsT: +1
604-718-2046E: invest@wfsinc.com
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