Westport Fuel Systems (WPRT) and Weichai Westport Agree to Modified Terms for Supply of HPDI Systems

Westport Fuel Systems Inc. (“Westport Fuel Systems”) (TSX/Nasdaq: WPRT) a global leader in alternative fuel, low-emissions transportation technologies, today announced its Weichai Westport Inc. (“WWI”) joint venture has agreed to amended terms for the existing technology development and supply agreements between WWI and Westport Fuel Systems. The amendments modify the existing 2018 agreements between Westport Fuel Systems and WWI, and increases WWI’s commitment to purchase Westport Fuel Systems’ flagship high pressure direct injection (“HPDI 2.0™”) systems, while extending the time frame to allow WWI to complete this volume commitment.

Under the terms of the revised agreement, Westport Fuel Systems will supply to WWI its proprietary components for no less than 25,000 12-liter engines operating on the HPDI 2.0 fuel system (“WP12HPDI”) by December 31, 2024, a volume increase of 28% versus the previous agreement. As one of the largest suppliers in China for natural gas-powered vehicles, WWI currently serves global transportation brands.

WWI is an affiliate of the Weichai Holding Group Co., Ltd.

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