Brazil’s WEG and Neoenergia announce partnership in charging stations for electric vehicles

The company logo for Weg is displayed on a screen on the floor of Brazil’s B3 Stock Exchange in Sao Paulo, Brazil, July 25, 2019. Picture taken July 25, 2019. REUTERS/Amanda Perobelli

SAO PAULO, Jan 18 (Reuters) – Brazilian motor maker WEG SA (WEGE3.SA) announced on Tuesday a partnership with power company Neoenergia SA (NEOE3.SA) to provide charging stations for electric vehicles.

Neoenergia, controlled by Spain’s Iberdrola SA (IBE.MC), has its own fleet of electric cars and also sells charging stations to companies and residential customers.

With the agreement, WEG will now be the exclusive supplier of charging stations to the power company. The company will provide equipment produced nationally with a power of 7.4 kilowatts, ideal for homes or residential buildings, and 22 kilowatts, which is more suitable for companies.

“We want not only to advance our strategy of making electric mobility a reality in Brazil, but also to structurally serve the entire chain required to make electric vehicles viable,” said Manfred Peter Johann, managing director of WEG’s automation unit.

Reporting by Leticia Fucuchima; Writing by Peter Frontini; Editing by Jonathan Oatis

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