Westport Fuel Systems (US) (TSE:WPRT) has released an update.
Westport Fuel Systems Inc. announced record revenues for 2023, driven by increased sales in OEM, electronics, and fuel storage sectors, alongside growth in engineering services, despite a net loss for the year. The company’s CEO, Dan Sceli, is focusing on three strategic pillars to drive future success: leveraging their HPDI joint venture, enhancing operational excellence, and innovating for a hydrogen-powered future. However, the financial results were tempered by lower sales in the India market, Africa, and the hydrogen business, contributing to a bigger net loss compared to the previous year.
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