Westport Fuel Systems Inc. reports it has signed a non-binding Memorandum of Understanding (MOU) with Weichai Power Co., Ltd. (Weichai Power), which 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 development was marked with a signing ceremony hosted by Mr. Tan Xuguang, Chairman and Chief Executive Officer of Weichai Holding Group Co., Ltd. in Jinan, Shandong Province, China. The parties are expected to enter into a definitive agreement in early 2018.
The MOU follows Westport Fuel Systems Inc.’s announcement on December 22nd that it has signed a US$20 million secured term loan agreement with Export Development Canada (EDC) to support the commercial launch of the Westport High Pressure Direct Injection 2.0 (Westport™ HPDI 2.0) program.
Source: Westport Fuel Systems Inc.