Westport Fuel Systems Expands China Hydrogen Center, Boosts Production Capacity
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Globenewswire
- Production Expansion: Westport Fuel Systems has commenced operations at its new facility in Cambridge, Ontario, and its Hydrogen Innovation Center in Changzhou, China, aimed at supporting the development of GFI-branded fuel system components, which is expected to significantly enhance the company's competitiveness in the global hydrogen market.
- Market Leadership: In 2024, sales of hydrogen buses and trucks in China surpassed those of all other regions combined, and Westport's expansion will better position it to meet the demands of this rapidly growing market, further solidifying its leadership in hydrogen and alternative fuel systems.
- Global Strategic Positioning: The establishment of the new facilities not only enhances Westport's manufacturing capabilities in China but also complements the expansion of its North American Innovation Hub, improving responsiveness and logistics to ensure timely fulfillment of increasing market demands.
- Clean Energy Innovation: Westport's High-Pressure Controls and Systems business focuses on designing and manufacturing critical components for hydrogen and alternative fuel systems, supporting automotive, truck, and industrial markets, driving the clean energy revolution, and facilitating low-emission transport solutions.
Analyst Views on WPRT
Wall Street analysts forecast WPRT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WPRT is 4.50 USD with a low forecast of 2.00 USD and a high forecast of 7.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
2 Buy
1 Hold
0 Sell
Moderate Buy
Current: 2.160
Low
2.00
Averages
4.50
High
7.00
Current: 2.160
Low
2.00
Averages
4.50
High
7.00
About WPRT
Westport Fuel Systems Inc. is a technology and innovation company connecting synergistic technologies to power a cleaner tomorrow. The Company designs, manufactures, and supplies advanced components and systems that enable the transition from traditional fuels to cleaner energy solutions. Its segments include High-Pressure Controls & Systems, Cespira, and Heavy-Duty OEM. The High-Pressure Controls & Systems business designs, develops, produces and sells components for transportation and industrial applications. The Cespira segment supplies systems, engineering services, and components, including Liquefied Natural Gas High Pressure Direct Injection (LNG HPDI) fuel system products, to engine manufacturers and commercial vehicle original equipment manufacturers (OEMs). The Heavy-Duty OEM segment provides transitional services. Its technologies support a range of clean fuels, including natural gas, renewable natural gas, and hydrogen.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
