~ Commercial Availability Expected in 2014 ~
VANCOUVER, May 30, 2013 /CNW/ - Westport Innovations Inc. (TSX:WPT /
NASDAQ: WPRT), the global leader in natural gas vehicles, today
announced an agreement with GAZ Group, the leader of the Russian
commercial vehicles market, to design and develop spark ignited natural
gas systems for a new range of GAZ Group compressed natural gas (CNG)
commercial vehicles. Westport's new WP580 Engine Management System will
be applied to GAZ's YaMZ-530 4.4L and 6.6L diesel engines and will
incorporate Westport proprietary components and technology in the
multi-year development and supply agreement signed today. The first
products will be introduced in commercial production in 2014.
"As the industry leader in Russia, GAZ and Westport have built a strong
partnership over the last few years and we look forward to working with
them to create this exciting next generation CNG product line," said
Elaine Wong, Executive Vice President of Westport. "Our new WP580
Engine Management System is an excellent platform for this program and
we expect we can deliver superior performance and economics for GAZ
customers at a time when market interest in CNG vehicles is increasing
rapidly for GAZ vehicles, in Russia and many other markets."
The WP580 Engine Management System, being introduced in Russia for the
first time, is a highly configurable system that has been specifically
developed for spark ignited, dedicated natural gas engine applications
and can be integrated with a wide range of proprietary Westport fuel
system components for flexible vehicle design and production. Its
advanced combustion control technology can optimize the engine for
class leading fuel economy whilst meeting existing and future emissions
and onboard diagnostic requirements. Westport has also set a new
benchmark with the WP580, with industry leading price performance and
"In the past three years, we have been selling CNG and liquefied
petroleum gas (LPG) components into the light-duty market in Russia,
which is a key market for Westport, and have gained market leadership,"
said Maurizio Grando, Managing Director of Westport's Applied
Technologies business unit. "The innovative technology in the WP580
system is based on years of experience in natural gas research and
development activities, and our experience in markets around the world.
We are honoured to be selected by GAZ as the partner for this new
generation of products."
"Westport's engineering resources and expertise, as the global leader of
natural gas-fuel technologies, will allow us to ensure high reliability
and safety of gas-fuelled vehicles, which is the top-priority
requirement for this type of vehicles," said Bo Andersson, GAZ Group
President/CEO. "GAZ Group's new line of natural gas engines will allow
us to develop our methane bus and truck fleet to ensure low emissions
level and fuel efficiency of cargo and passenger transportation in
Recently, the Russian government has supported the transition to using
natural gas as a transportation fuel. A 2012 Global Strategic Business
Report projects that the number of natural gas vehicles in Russia will
almost double by 2018. According to various media articles, the Russian
government is proposing incentives for up to 50% of road transport,
public transport and road utility fleets to switch to natural gas. The
Russian Ministry of Energy further recommended to reduce the tax rates
for vehicles that use natural gas as a motor fuel, from January 1, 2014
through to 2020.
About GAZ Group
GAZ Group is the largest manufacturer of commercial vehicles in Russia.
GAZ Group produces light and medium-duty commercial vehicles, buses,
heavy-duty trucks, passenger cars, power trains and automotive
components at its 13 plants located in 8 regions of Russia. GAZ Group
leads the Russian commercial vehicles market, with 50% of the LCV
segment and 65% of the bus segment. GAZ Group's main shareholder is
Russian Machines machine-building holding, a part of the Basic Element
business group. GAZ Group headquarters is located in Nizhny Novgorod.
About Westport Innovations Inc.
Westport Innovations Inc. is a leading global supplier of proprietary
solutions that allow engines to operate on clean-burning fuels such as
compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen,
and renewable natural gas (RNG) fuels such as landfill gas and help
reduce greenhouse gas emissions (GHG). Westport technology offers
advanced LNG fueling systems with direct injection natural gas engine
technology for heavy-duty vehicles such as highway trucks and off-road
applications such as mining and rail. Westport's joint venture with
Cummins Inc., Cummins Westport Inc., designs, engineers and markets
spark-ignited natural gas engines for North American transportation
applications such as trucks and buses. Westport is also one of the
global leaders for natural gas and liquefied petroleum gas (LPG) fuel
systems technology, design, and components in passenger cars,
light-duty trucks and industrial applications such as forklifts. To
learn more about our business, visit our website or subscribe to our
RSS feed at www.westport.com, or follow us on Twitter @WestportDotCom.
Note: This document contains forward-looking statements about Westport's
business, operations, technology development or the environment in
which it operates, which are based on Westport's estimates, forecasts
and projections. These statements include specifically, statements
regarding the timing for launch of the referenced GAZ Group products.
These statements are not guarantees of future performance, are based on
a number of assumptions and involve known and unknown risks and
uncertainties that are difficult to predict, or are beyond Westport's
control, including the development of competing products and
technologies, availability and supply of natural gas, price and supply
of gasoline, timing of execution of agreements with distributors and
other counterparties, and other risk factors and assumptions that may
affect our actual results, performance or achievements. Consequently,
readers should not place any undue reliance on such forward-looking
statements. In addition, these forward-looking statements relate to the
date on which they are made. Westport disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise except as
required by National Instrument 51-102. The contents of any website,
RSS feed or Twitter account referenced in this press release are not
incorporated by reference herein.
SOURCE: Westport Innovations Inc.
For further information:
Vice President, Investor Relations & Communications
Westport Innovations Inc.
Westport Innovations Inc.
Head of PR-department
Phone: +7 495 775 07 34