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WEG's R$2 billion investment aims to transform Brazil into a hub for electric car batteries. Check out the details
This Wednesday (30), WEG made official an investment cycle of R$1,8 billion to produce electric car batteries on a large scale in Brazil. WEG's investment announcement was made at an event at the Planalto Palace, whichattended by President Luiz Inácio Lula da Silva, Vice President Geraldo Alckmin and other ministers, highlighting the initiative as part of the New Industry Brazil (NIB), launched in January to boost sustainable and technological industrialization by 2033.
Understand the importance of WEG's investment in the production of electric car batteries
With NIB, the federal government seeks to mobilize R$1,6 trillion in investments by 2029, of which 75% must be generated by the private sector, to promote projects that leverage sustainable cities and green mobility.
According to Geraldo Alckmin, this significant volume of investment by WEG and other companies demonstrates the correct focus of New Industry Brazil, which, in this case, will strengthen infrastructure and mobility in the country, bringing well-being to citizens while fostering an innovative industry.
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The partnership between the public and private sectors, mainly focusing on electric car batteries, is essential to transform cities, with projects that bring economic development and quality of life to millions of Brazilians.
WEG, known for its global presence in power generation, transmission and distribution solutions, is expanding its strategic presence in the electric mobility market with an investment. The Santa Catarina-based company, founded in 1961, operates in more than 130 countries and, in the third quarter of 2024, recorded a profit of R$1,57 billion and revenue of R$9,85 billion.
This growth has been driven by the diversification of its portfolio and the expansion of its international presence, which accounts for around 60% of total revenues.
WEG investment will use national lithium reserves
In addition to the new focus on electric car batteries, WEG also invests in technologies focused on the generation and transmission of clean energy and the supply of equipment for the global electrical infrastructure, especially in United States.
In its strategy for Brazil, the company aims to take advantage of national reserves of lithium and other minerals used in battery production, contributing to strengthening a national value chain in the sector.
Currently, most of Brazil's mineral resources are still exported, however, WEG's intention is, with the support of MDIC, to strengthen the domestic market and make the production of electric car batteries more sustainable and less dependent on coal, used on a large scale in some countries.
WEG investment promises to generate hundreds of new jobs
In addition to creating hundreds of jobs and fostering economic development, WEG's investment in electric car batteries aims to take advantage of Brazilian reserves of lithium and other critical minerals for the production of components.
Currently, much of these resources are exported, however, the goal of the government and the private sector is to strengthen a local battery production chain that reduces dependence on imports and increases sustainability, using renewable energy.
According to the MDIC, by promoting the production of electric car batteries in Brazil, the country also plans to position itself as a reference in low-emission technologies, leveraging the use of clean and renewable sources in the production process and promoting the transition to a cleaner energy matrix.
It is worth mentioning that, recently, the Pilbara Minerals, the world's largest producer of hard rock lithium and responsible for 8% of the world's production of this type of mineral, announced that it plans to consolidate a lithium base in Brazil.
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