Westport inks development deal with GM

Westport Innovations Inc., which develops natural gas engines for heavy duty vehicles, said Tuesday that it has agreed on a deal with automaker General Motors Co. to help develop natural gas engine technology.

Financial terms were not disclosed.

The news sent Westport shares up $1.79, or 8.3 percent, to $23.30 in pre-market trading.

The companies said they will work together to develop natural gas engine controls, emissions and performance strategies.

Westport also said that it plans to open a new technical center in Michigan. The Canadian company currently employs 15 people in Farmington Hills, Mich., and plans to add more people and facilities as demand grows for natural gas-powered, alternative-fuel vehicles.

Westport, which is based in Vancouver, British Columbia, said the planned research and development facilities will develop technologies that allow vehicles to run on natural gas for business and government fleets, and personal use.

 

 

This article was first published by Forbes.


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