WPRT - Westport Fuel pops after raising HPDI supply terms for Chinese JV

Westport Fuel Systems (WPRT) +8.3% post-market after the Weichai Westport joint venture agreed to amended terms for the existing technology development and supply agreements between the two groups.Westport Fuel Systems will supply to Weichai Westport its proprietary components for at least 25K 12-liter engines operating on the HPDI 2.0 fuel system by year-end 2024, a 28% volume increase over the previous agreement.Westport's HPDI 2.0 technology enables heavy-duty trucks to run on natural gas with reduced fuel costs, CO2 and particulate emissions, while achieving diesel-like performance.WPRT shares have pulled back from their $12.95 intraday high reached last month but have soared 11x from a year ago.Warning of "the danger of narrative investing" and maintaining the shares are expensive relative to their own history, Patrick Doyle was bearish on Westport in a late December analysis posted on Seeking Alpha.

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Westport Fuel pops after raising HPDI supply terms for Chinese JV