Weg should maintain its product development efforts for the vehicle electrification market despite the reduction in demand that has hit sales of electric cars, as the company has focused on recharging and the heavy-duty segment, said an executive at Weg. company this Thursday.
“This does not change our strategy,” said Weg’s finance director, André Salgueiro, in a conference with analysts following the publication on the eve of the company’s third-quarter financial statement.
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“We believe that part of the market will continue to have electric components, especially hybrids, which requires charging infrastructure,” said the executive. “We remain focused on developing this business,” he added.
Asked about the prospects for demand in the Brazilian electrical equipment market, Salgueiro stated that short-cycle equipment is showing “good dynamics” for the coming quarters and that long-cycle equipment should show a resumption of growth from 2025 onwards.
