Westport Innovations Surges 10% on Deal with General Motors
Shares of natural gan engine developer, Westport Innovations (NASDAQ: WPRT), are seeing much strength during Wednesday's trading session after the company announced a second agreement with General Motors (NYSE: GM).
Both companies announced that it has entered into an additional agreement with General Motors for a second advanced technology development program. Westport and GM are now developing two different combustion, controls and emissions approaches to natural gas engines, with the first cooperative technology project being announced in June 2011.
Both GM and Westport will continue to bring their extensive expertise to develop natural gas engine controls, emissions and performance strategies. This new program will optimize advanced natural gas technologies and applications for maximum CO2 reduction and fuel efficiency in light-duty vehicles.
Currently, shares of Westport are trading up over 8.5 percent at 35.27 per share.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.