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Westport Fuel Systems Inc. WPRT recently entered into a long-term contract for the source of key electronic assemblies with a leading automotive supplier. This deal includes sourcing electrical assemblies over a seven-year era with an estimated profit of $ 58 million. Beginning in the first quarter of 2021, Westport Fuel Systems will manufacture and supply the electronic assemblies, which will be installed in the electric water pumps of two light vehicle models from the European counterpart car part manufacturer (“OEM”). The electric coolant pump is the key component of the vehicle’s cooling system. Integrating the electrical assemblies in the pump will reduce energy intake and lower carbon emissions. According to David M. Johnson, CEO of Westport Fuel Systems, this new contract confirms the competitiveness of the electronics supply and production capabilities of the company. A Canadian automotive company is a developer, manufacturer and supplier of complex choice fuel systems and components. Westport Fuel Systems generation and products enable the use of low carbon fuels such as herbal fuel, propane, renewable herbal fuel or hydrogen in combustion engines. Using herbal fuel instead of petroleum based fuel reduces emissions and prices Adopting stringent environmental regulations, mandating discounts on greenhouse fuel emissions in key markets around the world, has created opportunities for Westport Fuel Systems to generate profit and market share. . Furthermore, this source contract confirms the company’s ability to obtain diversified and competitive products and facilities for the global automotive industry. It also reaffirms the company’s focus on blank transportation by providing products that provide environmental benefits.
Westport Fuel Systems Inc. Price Consensus Chart.| Quote from Westport Fuel Systems Inc.
Westport Fuel Systems currently has a Level 1 level of Zacks (strong purchase).It has seen a 28.3% decline since the start of the year, below the 0.6% drop in its industry during the same period.General Motors has a Zacks rank of 1 while Ford and Fox Factory have a rank of Zacks No.2 (purchase) . You can see the full list of Zacks’ existing moves: Rank 1 here. Fox Factory has appreciated 44.9% since the start of the year, while Ford and General Motors have fallen by 26.7% and 19%, respectively.
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Want to know the latest recommendations from Zacks Investment Research?Today you can download 7 shares for the next 30 days.Click to get this ford Motor Company (F) Loose Report: General Motors Company (GM) Free Stock Analysis Report: Westport Fuel Systems Inc. Free Stock Analysis Report.(WPRT): Free stock analysis report Fox Factory Holding Corp.(FOXF): Free Share Analysis Report To read this article in Zacks.com, click here.Zacks Investment Research