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Westport (WPRT) Boosts Manufacturing of HPDI Injectors in China
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Westport Fuel Systems (WPRT - Free Report) recently announced the decision to co-invest with its Tier 1 global injector manufacturing partner in order to scale up their manufacturing facility in Yantai, China. The aim is to jointly develop and supply proprietary fuel injectors to cater to the expanding global market for high-pressure direct injection (HPDI) 2.0 fuel systems. This move is in sync with Westport’s goal of meeting the rising global demand for clean, cost-effective heavy-duty trucks powered by HPDI 2.0, especially in Europe and China.
Booming Prospects of HPDI 2.0 Systems
Canada-based Westport is a developer, manufacturer, and supplier of advanced alternative fuel systems as well as components. The company’s technology and products enable the usage of gaseous fuels such as natural gas, propane, renewable natural gas or hydrogen in combustion engines. The use of natural gas instead of petroleum-based fuel reduces emissions and costs.
The adoption of stringent environmental regulations, mandating the reduction of carbon emissions globally, has augmented opportunities for Westport to boost revenues and market share. The company is banking on market-ready products and the customer base to capitalize on the existing opportunities for driving growth.
The heavy-duty truck sector has traditionally been arduous to decarbonize, owing to the difficulty of replacing diesel without compromising on vehicle performance. However, Westport’s HPDI 2.0 helps in reducing greenhouse gas emissions and fuel costs by allowing heavy-duty trucks to operate on natural gas, while retaining the performance and efficiency of a diesel engine. Thus, HPDI 2.0 provides an affordable way of achieving carbon neutrality in heavy-duty, long-haul trucking.
Moreover, Westport anticipates greater HPDI volume in the upcoming months, as it views the heavy-duty market to be much more guarded against the rising coronavirus cases than the light-duty market and aftermarket.
Rationale Behind the Investment
The investment to expand the manufacturing capacity enables the state-of-the-art facility in China to be further competent to easily meet the future demand in Europe, China and then the rest of the world.
Amid heightening climate change concerns, China has vowed to be carbon neutral by 2060. Encouragingly, the transition to green transportation solutions is also well in progress in Europe, which has pledged to be a carbon-neutral continent by 2050.
Per Natural Gas Vehicle Association of Europe, there are more than 11,000 LNG-fueled trucks operating in Europe. The LNG fueling network has increased more than twofold since 2017, with almost 400 LNG refueling stations operating across Europe. Moreover, fleet operators in Europe are making investments to support net-zero carbon solutions through the purchase of HPDI 2.0-powered trucks running on renewable gas.
Westport & WWI Amend Terms of Agreement
Meanwhile, Westport recently announced thatWeichai Westport Inc. (“WWI”) — the company’s joint venture in China — has agreed to the modified terms of the existing technology development and supply agreements between the two companies. The amendments modified the 2018 agreements between Westport Fuel Systems and WWI.
Per the terms of the revised agreement, Westport Fuel Systems will supply to WWI its proprietary components for at least 25,000 12-liter engines operating on the HPDI 2.0 fuel system by Dec 31, 2024, marking an increase of 28% from the previous agreement.
Zacks Rank and Key Picks
Westport currently carries a Zacks Rank #3 (Hold). Shares of the company have skyrocketed 999.9% in the past year compared with the industry’s 98.9% rally.
Shares of Meritor, Magna and American Axle have appreciated 141.2%, 235.2% and 284.8%, respectively, in the past year.
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Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Westport (WPRT) Boosts Manufacturing of HPDI Injectors in China
Westport Fuel Systems (WPRT - Free Report) recently announced the decision to co-invest with its Tier 1 global injector manufacturing partner in order to scale up their manufacturing facility in Yantai, China. The aim is to jointly develop and supply proprietary fuel injectors to cater to the expanding global market for high-pressure direct injection (HPDI) 2.0 fuel systems. This move is in sync with Westport’s goal of meeting the rising global demand for clean, cost-effective heavy-duty trucks powered by HPDI 2.0, especially in Europe and China.
Booming Prospects of HPDI 2.0 Systems
Canada-based Westport is a developer, manufacturer, and supplier of advanced alternative fuel systems as well as components. The company’s technology and products enable the usage of gaseous fuels such as natural gas, propane, renewable natural gas or hydrogen in combustion engines. The use of natural gas instead of petroleum-based fuel reduces emissions and costs.
The adoption of stringent environmental regulations, mandating the reduction of carbon emissions globally, has augmented opportunities for Westport to boost revenues and market share. The company is banking on market-ready products and the customer base to capitalize on the existing opportunities for driving growth.
The heavy-duty truck sector has traditionally been arduous to decarbonize, owing to the difficulty of replacing diesel without compromising on vehicle performance. However, Westport’s HPDI 2.0 helps in reducing greenhouse gas emissions and fuel costs by allowing heavy-duty trucks to operate on natural gas, while retaining the performance and efficiency of a diesel engine. Thus, HPDI 2.0 provides an affordable way of achieving carbon neutrality in heavy-duty, long-haul trucking.
Moreover, Westport anticipates greater HPDI volume in the upcoming months, as it views the heavy-duty market to be much more guarded against the rising coronavirus cases than the light-duty market and aftermarket.
Rationale Behind the Investment
The investment to expand the manufacturing capacity enables the state-of-the-art facility in China to be further competent to easily meet the future demand in Europe, China and then the rest of the world.
Amid heightening climate change concerns, China has vowed to be carbon neutral by 2060. Encouragingly, the transition to green transportation solutions is also well in progress in Europe, which has pledged to be a carbon-neutral continent by 2050.
Per Natural Gas Vehicle Association of Europe, there are more than 11,000 LNG-fueled trucks operating in Europe. The LNG fueling network has increased more than twofold since 2017, with almost 400 LNG refueling stations operating across Europe. Moreover, fleet operators in Europe are making investments to support net-zero carbon solutions through the purchase of HPDI 2.0-powered trucks running on renewable gas.
Westport & WWI Amend Terms of Agreement
Meanwhile, Westport recently announced thatWeichai Westport Inc. (“WWI”) — the company’s joint venture in China — has agreed to the modified terms of the existing technology development and supply agreements between the two companies. The amendments modified the 2018 agreements between Westport Fuel Systems and WWI.
Per the terms of the revised agreement, Westport Fuel Systems will supply to WWI its proprietary components for at least 25,000 12-liter engines operating on the HPDI 2.0 fuel system by Dec 31, 2024, marking an increase of 28% from the previous agreement.
Zacks Rank and Key Picks
Westport currently carries a Zacks Rank #3 (Hold). Shares of the company have skyrocketed 999.9% in the past year compared with the industry’s 98.9% rally.
Some better-ranked stocks in the same sector include Meritor , American Axle & Holdings (AXL - Free Report) , and Magna International (MGA - Free Report) , each sporting a Zacks Rank of 1 (Strong Buy), presently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Meritor, Magna and American Axle have appreciated 141.2%, 235.2% and 284.8%, respectively, in the past year.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>