WEG announced investments of R$660 million (≌ USD128 million), over the next three years, to expand the production capacity of industrial and electric traction motors in Brazil.
In addition to expanding the component manufacturing and logistics buildings, the company will also build a new factory dedicated to the production of industrial motors and mainly to the electric mobility segment. The project will be carried out in the Jaraguá do Sul industrial park, Santa Catarina state, the company's headquarters city, and will increase WEG's current industrial motor production capacity by 25%.
As stated by Alberto Kuba, WEG's Industrial Motors Managing Director, "these are fundamental investments for WEG's future growth, since they considerably expanded our manufacturing capacity to meet the demands of assembly lines and commercial branches abroad, as well as strengthened our capacity in Brazil to meet the growing demand for electric mobility."
The investment schedule foresees the completion of the new motor and traction industrial plant in the 1st quarter of 2024. The building will have approximately 18,000 m² of built area and will be designed to allow a gradual and continuous increase in production capacity to satisfy the expansion needs of the company in the coming years.
WEG's investment plan also contemplates the updating and modernization of existing component and logistics factories, totaling an expansion of approximately 23,000 m² of built area, to meet projected demand.