Westport-Volvo JV Secures Deal to Commercialize HPDI Tech for Heavy-Duty Trucks (WPRT)

Westport Fuel Systems' (WPRT) joint venture with Volvo Group has signed a long-term agreement for the commercialization and global supply of Westport's High Pressure Direct Injection (HPDI) fuel system technology. The deal targets Volvo Group's heavy-duty trucks, with production expected to commence in the second half of 2027. This collaboration aims to accelerate the deployment of advanced fuel systems, reducing CO2 emissions and improving fuel efficiency. The joint venture, "Volvo & Westport," formed in March 2024. Westport contributed its HPDI assets and operations to the JV, receiving €28 million. Volvo Group acquired a 45% stake in the joint venture for €50 million. Volvo Group is set to be the first to introduce HPDI technology to its European customers.