Westport Fuel Systems Signs MOU with Weichai Power
22 Dezembro 2017 - 11:00AM
Westport Fuel Systems Inc. (“
Westport Fuel
Systems”) (TSX:WPRT) (Nasdaq:WPRT) announced today that it
has signed a non-binding Memorandum of Understanding
(“
MOU”) with Weichai Power Co., Ltd.
(“
Weichai Power”) at a signing ceremony hosted by
Mr. Tan Xuguang, Chairman and Chief Executive Officer of Weichai
Holding Group Co., Ltd. in Jinan, Shandong Province, China. This
MOU sets the framework for finalizing the development, marketing,
and commercialization of the Westport high pressure direct
injection (“
Westport™ HPDI”) technology in China.
The MOU states that Westport Fuel Systems will provide support
for the Westport™ HPDI development activities to meet China VI
emissions standards and will supply certain components.
The parties are expected to enter into a definitive agreement in
early 2018.
About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a
cleaner tomorrow. We are inventors, engineers, manufacturers and
suppliers of advanced clean-burning fuel systems and components
that can change the way the world moves. Our technology delivers
performance, fuel efficiency and environmental benefits to address
the challenges of global climate change and urban air quality.
Headquartered in Vancouver, Canada, 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.
Note: This press release contains forward-looking statements,
including statements regarding the timing and completion of a
definitive agreement regarding the development of Westport HPDI
system with Weichai, the demand for our products, the future
success of our business and technology strategies, investment in
new product and technology development and otherwise, intentions of
partners and potential customers, the performance and
competitiveness of Westport Fuel Systems' products and expansion of
product coverage, liquidity, future market opportunities and timing
of future agreements as well as Westport Fuel Systems management's
response to any of the aforementioned factors. These statements are
neither promises nor guarantees, but involve known and unknown
risks and uncertainties and are based on both the views of
management and assumptions that may cause our actual results,
levels of activity, performance or achievements to be materially
different from any future results, levels of activities,
performance or achievements expressed in or implied by these
forward looking statements. These risks and uncertainties include
risks and assumptions related to our industry and products, the
general economy, governmental policies and regulation, technology
innovations, the availability and price of natural gas, global
government stimulus packages, the acceptance of and shift to
natural gas vehicles, the development of competing technologies,
our ability to adequately develop and deploy our technology, the
actions and determinations of our joint venture and development
partners, as well as other risk factors and assumptions that may
affect our actual results, performance or achievements or financial
position discussed in our most recent Annual Information Form and
other filings with securities regulators. Readers should not place
undue reliance on any such forward-looking statements, which speak
only as of the date they were made. We disclaim any obligation to
publicly update or revise such statements to reflect any change in
our expectations or in events, conditions or circumstances on which
any such statements may be based, or that may affect the likelihood
that actual results will differ from those set forth in these
forward looking statements except as required by National
Instrument 51-102. The contents of any website, RSS feed or twitter
account referenced in this press release are not incorporated by
reference herein.
Investor Inquiries: Caroline SawamotoManager,
Investor Relations & Communications Westport Fuel
SystemsT: +1 604-718-2046invest@wfsinc.com
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