Brazilian motor manufacturer Weg announced on Thursday it had acquired a roughly 54% stake in Tupinamba Energia, a company that provides electric vehicle (EV) charging management software, in a deal valued at 38 million reais ($6.99 million).
The acquisition gives Weg a majority interest in Tupi Mob, which operates a digital platform linking more than 370,000 users to a network of EV chargers.
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According to the company, Tupi has completed over 1.3 million charging sessions and delivered 26 gigawatt-hours of energy to date. Weg said the deal supports its strategy to lead the transformation of the electric mobility sector.
The move aligns with Weg’s broader plan to expand its EV infrastructure presence in Brazil and abroad. Earlier this month, the company announced intentions to sell locally manufactured EV chargers in Europe starting next year and is developing a new 1-megawatt charging solution.
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The acquisition remains subject to regulatory approvals and other conditions.