- Westport (WPRT) plans to expand its global manufacturing footprint in China by investing up to US$10 million over the next ten years
- The investment is in support of the future growth of Westport’s hydrogen componentry business and other alternative fuel system technologies
- Westport Fuel Systems is the supplier of advanced fuel delivery components and systems for clean, low-carbon fuels
- Westport Fuel Systems Inc. (WPRT) is up 1.24 per cent, trading at C$1.64 per share at 11:53 am ET
Westport (WPRT) announced plans to expand its global manufacturing footprint in China by investing up to US$10 million over the next ten years.
This investment is in support of the future growth of Westport’s hydrogen componentry business and other alternative fuel system technologies.
Westport is focusing on China for this manufacturing expansion as China leads the world in hydrogen investment and infrastructure development. The investment agreement provides for the City of Changzhou to build the new hydrogen innovation center and manufacturing facility in the Changzhou Hydrogen Valley.
David M. Johnson, CEO of Westport Fuel Systems, commented on the news.
“The city of Changzhou is focusing on becoming the capital of new energy industries. This makes them an ideal partner for growth and provides the opportunity to establish manufacturing excellence on a regional basis. This, in turn, supports our global customers accelerating hydrogen as a prevailing low-emission transportation solution.”
Changzhou city is located in the center of the Yangtze River Delta. It covers an area of 4,385 square kilometres and has a population of 5.37 million.
As per the agreement, Westport and Changzhou will design and construct an ultra-modern manufacturing facility for hydrogen fuel systems. It includes office space specifically to meet Westport’s advanced manufacturing requirements. The Changzhou site may also include a contemporary innovation center. It will provide continued focus on hydrogen solutions to support Westport’s mission to develop innovative, specialized, and market-ready emission-reduction solutions.
The company expects the new facility to be in operation in 2024.
Westport Fuel Systems is the supplier of advanced fuel delivery components and systems for clean, low-carbon fuels.
Westport Fuel Systems Inc. (WPRT) is up 1.24 per cent, trading at C$1.64 per share at 11:53 am ET.