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The Growth of the Electric Vehicle Sector Should Allow Weg to Provide Various Electric Mobility Products
The electric vehicle sector, which is experiencing significant expansion, can greatly contribute to the rise of the company Weg, as with the production of electric vehicles, the company can offer products and services in numerous electric mobility segments, according to Broadcast.
The president of Weg, Harry Schmelzer Júnior, supports these forecasts. “This trend is irreversible. A significant portion of cargo or passenger transport vehicles in major centers around the world will be electric.”
Weg’s Valuation With the Production of Electric Vehicles Makes Investors Consider the Company as an Investment
The great opportunity to produce various electric products, including vehicles, has led investors to bet on the appreciation of the company Weg, which ranked first in the Broadcast Companies Award, conducted by Agência Estado in partnership with the São Paulo School of Economics of Fundação Getulio Vargas. The award refers to the year 2021, when, even amid adverse market conditions, Weg’s profit increased by 34.9% compared to 2020.
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Last Wednesday, the 20th, Weg made public the results obtained in the second quarter of 2022. During this period, despite rising costs of commodities, energy, and logistics, the company recorded a net revenue of approximately R$ 7.185 billion, reflecting a 25% increase compared to the second quarter of 2021. For the semester, revenue grew from 29.5% to R$ 14.013 billion.
The company’s net revenue, on the other hand, declined by 19.5% in the quarter compared to the same period in 2021, totaling R$ 912.6 million. Considering the first six months of the year, profit was R$ 1.856 billion, a decrease of 2.2% compared to 2021.
Even With Slower GDP Growth, Weg’s President Predicts Good Results for the Company
What is expected for 2022, according to Schmelzer, is a positive outcome, despite forecasts for slower growth in Gross Domestic Product (GDP). The optimism, according to the executive, is fueled by new business segments and exports.
The president states that this situation allows Weg to continue with its plan for 2022, which foresees an investment of R$ 1.5 billion in modernization and industrial automation, robotization of operations, and increased production capacity of electric vehicles in Brazil.
“We will focus on developing more efficient products,” says Schmelzer, referring to electric motors, processes and services geared towards Industry 4.0, battery energy storage systems, electric traction for buses and trucks, and systems for recharging electric vehicle batteries.
Weg also aims to seize some opportunities in its common operational segments in the energy sector, such as distribution and generation, as this trend requires more robust grids and greater electricity production.
Electric Vehicle Market
According to the National Association of Motor Vehicle Manufacturers (Anfavea), in 2021, electric and hybrid vehicles accounted for 1.8% of light vehicle distribution; however, by 2035, electric vehicles could represent up to 65% of vehicles in the country.
With this, Weg has acted in supplying electric traction systems and battery storage for vehicles. On the other side of this sector, the company plans to expand manufacturing for charging station equipment and network infrastructure to meet the demand for charging stations.
Weg in Brazil and Abroad
In Brazil, the company already has partnerships to be the official supplier for automakers such as Renault, Peugeot, Citroën, Jeep, and Fiat. Outside of Brazil, Weg has begun exporting components to Argentina, aiming to serve electric vehicles from the Stellantis Group.
Information comes from the newspaper O Estado de S. Paulo.
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