"The global demand for Westport's and its joint venture's products is growing significantly. As a result of the increase in demand, we have doubled the plant capacity in the Weichai Westport facility to be able to produce up to 40,000 engines annually."
Income from investment accounted for by the equity method for the three months ended June 30, 2012 was $1.0 million, which related to Westport's 35% interest in Weichai Westport (WWI) of $1.1 million and a loss in the Westport's 50% interest in Minda-Emer Technologies Ltd. of $0.1 million. This is compared with Westport's 35% interest in WWI of $0.4 million in the prior year period. CWI's net income attributable to Westport was $3.6 million, an increase of 24.1% compared with $2.9 million in the prior year period.
Weichai Westport Inc. (WWI) Highlights WWI is aggressively penetrating new markets in China. For the three months ended June 30, 2012, WWI revenue increased to $68.8 million on 5,331 engines compared with $22.5 million on 1,654 engines for the quarter ended June 30, 2011. To meet the increasing demand of natural gas trucks in China, the WWI production facility has been expanded to an annual capacity of 40,000 engines per year. The Weichai Westport HPDI engine is currently undergoing road testing with a select OEM customer, Shaanxi Heavy Duty Automobile Group Co., Ltd. Commercial launch of this new product is expected in 2013