By Brazil Stock Guide – WEG S.A. (B3: WEGE3 / OTC: WEGZY) has taken a decisive step toward consolidating its position in electric mobility with the acquisition of a 54% stake in Tupinambá Energia, a Brazilian startup focused on digital platforms for EV charging management. The R$ 38 million investment strengthens WEG’s strategy to become a full-stack player—from hardware to software—in the clean-energy and transport sectors.
Announced on October 16, the deal is subject to regulatory approval. It marks a new step in WEG’s expansion into electric mobility, following earlier moves in residential and corporate charging. The acquisition broadens the company’s reach into digital services, an area where Tupinambá has established early expertise.
For WEG, the acquisition offers an opportunity to vertically integrate an entire mobility ecosystem, combining equipment manufacturing with data, connectivity, and energy services. The company also intends to gradually roll out the model abroad, leveraging its industrial and commercial presence in more than 30 countries. In a statement, WEG said the transaction “strengthens its strategy to lead the transformation of the electric mobility sector.”
The core asset: Tupi Mob
Founded in 2019 in São Paulo, Tupinambá Energia (Tupi Mob) built the Tupi App, a platform connecting EV drivers to charging stations in real time. The service already counts 370 thousand users, 1.3 million charges, and 26 GWh of energy delivered.
The company also runs Tupi Conecta, a management platform used by automakers and charging-network operators. In 2024, Tupinambá generated R$ 8.6 million in net revenue and processed R$ 40 million in charging transactions with just 36 employees. WEG’s entry marks the maturation of Brazil’s EV-charging ecosystem, long reliant on imported solutions.
A Raízen-backed past
Before WEG’s arrival, Raízen S.A.—the Shell-Cosan energy joint venture—played a key role in Tupinambá’s early growth. In 2022, Raízen led a R$ 10 million investment round alongside Plataforma Capital, with an option to convert the funding into equity.
In 2023, Raízen Power, the company’s e-mobility division, acquired the entire physical charging network once operated by Tupinambá—204 AC chargers with potential to reach 600 stations. The transaction transferred infrastructure assets to Raízen while Tupinambá refocused on software and digital-platform development.