- Westport Fuel Systems (TSX:WPRT) announces that Cespira, its high-pressure direct injection joint venture with Volvo Group, has named Carlos Gonzalez as president and chief executive officer
- Gonzalez brings 24 years of experience in the European automotive and commercial vehicle industry
- Westport Fuel Systems supplies advanced fuel delivery components and systems for clean, low-carbon fuels to the global transportation industry
- Westport Fuel Systems stock has given back 20.90 per cent year-over-year and 81.70 per cent since 2020
Westport Fuel Systems (TSX:WPRT) announces that Cespira, its high-pressure direct injection (HPDI) joint venture with Volvo Group, has named Carlos Gonzalez as president and chief executive officer (CEO).
Beginning April 1, 2025, Gonzalez will succeed Dan Sceli, CEO of Westport, who has been overseeing Cespira on an interim basis since the joint venture transaction in June 2024 and will remain on Cespira’s board.
Volvo and Westport Fuel will focus on expediting the go-to-market strategy for Westport’s HPDI fuel system, which replaces greenhouse gas-emitting fuels with carbon-neutral or zero-carbon fuels in long-haul trucks and other high-load and off-road applications at attractive economics.
Gonzalez brings 24 years of experience in the European automotive and commercial vehicle industry, including the last 12 years as a leader at ZF Group, a global technology company focused on advanced mobility solutions, where he last served as vice president and global key account executive for the TRATON Group. His career is also highlighted by tenures at General Dynamics ELS, Continental AG and Lear Corporation.
“I am thrilled to join this exceptional team in their mission to decarbonize the industry with cost-efficient technology that is perfectly suited for heavy-duty applications,” Gonzalez said in a statement. “With a focus on customer satisfaction, environmental sustainability and fleet efficiency, we will deliver innovative solutions that meet the evolving needs of the industry.”
“The Westport team is pleased to welcome Carlos as the new president and CEO of Cespira,” Sceli added. “His exceptional leadership, combined with a proven track record in business development and supply chain management within the automotive and commercial vehicle industries, will be instrumental in guiding Cespira towards its continued growth and success. Just as importantly, his passion for sustainability and innovation perfectly aligns with our commitment to delivering transformative solutions for hard-to-decarbonize transportation applications.”
About Westport Fuel Systems
Westport Fuel Systems supplies advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane and hydrogen to the global transportation industry. The company’s technology addresses climate change and urban air quality for leading transportation brands in more than 70 countries.
Westport Fuel Systems stock (TSX:WPRT) opened with a gain of 0.16 per cent trading at C$6.13 per share. The stock has given back 20.90 per cent year-over-year and 81.70 per cent since 2020, driven by Westport’s inconsistent relationship with profitability.
That said, Cespira, in addition to various cost-cutting measures, have allowed Westport to recently decrease expenses in research and development, sales and general and administrative by about 40 per cent year-over-year. This reduction positions the company to finish strong with 2024 financials, continuing Q3 and Q2‘s return to positive operating income, as well as positive net income on a consolidated basis.
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(Top photo of incoming Cespira CEO, Carlos Gonzalez: Cespira)