incoming lawsuithttps://stockhouse.com/news/press-releases/2020/09/23/lost-money-in-westport-fuel-systems-inc
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On September 18, 2020, Westport Fuel Systems announced that it had secured certification of its 12-liter "HPDI 2.0" engine from the Ministry of Ecology and Environment of China. Following that announcement, Westport Fuel Systems Inc stock jumped nearly 39%. The announcement stated that the certification meant the company “is now in a position to market and sell the heavy-duty natural gas engines with HPDI technology to various truck original equipment manufacturers."
Four days later on September 22, 2020, Westport Fuel System’s Chinese subsidiary released a new statement admitting that, although the company’s Weichai Westport Inc. (“WWI”) joint venture did receive certification for HPDI 2.0, “it may not be sold to the market according to the relevant Laws and Regulations of the People's Republic of China (PRC)." Before it can be sold on the market, the engine "must successfully complete calibration work for high altitude, high temperature, cold environment and vehicle durability testing of over 700,000