Volvo Group signs agreement with Westport for joint venture to reduce CO2 emissions from long haul transport
The Volvo Group has signed an agreement according to the previously announced Letter of Intent with Westport Fuel Systems Inc to establish a joint venture to accelerate the commercialization and global adoption of Westport’s High Pressure Direct Injection (HPDI[TM]) fuel system technology for long-haul and off-road applications.The closing of the joint venture is subject to certain closing conditions, including regulatory and government approvals. It is anticipated that the joint venture will become operational following the formal closing which is expected in the second quarter of 2024.