LatAm Capital Goods & Transportation: Road Ahead (Jun.29): WEG Signs Motors Contract, Ultra Gives Up on Rumo, Anfavea Legal Action

Research evidence excerpt

LatAm Capital Goods & Transportation: Road Ahead (Jun.29): WEG Signs Motors Contract, Ultra Gives Up on Rumo, Anfavea Legal Action

J P M O R G A N Latin America Equity Research

29 June 2026

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LatAm Capital Goods &

Transportation

Road Ahead (Jun. 29): WEG Signs Motors Contract,

Ultra Gives Up on Rumo, Anfavea Legal Action

Upcoming Events This Week Latin American Capital Goods

• Mon. (Jun. 29): IMEA Data @ 5pm ET Marcelo Motta AC (55-11) 4950-6712

Top News from Past Week: marcelo.g.motta@jpmorgan.com

Jonathan S. Koutras

• WEG signs contract to supply motors for lithium project in Nevada. WEG (55-11) 4950-3549

has signed last week a deal to supply ~600 low- and medium-voltage electric jonathan.s.koutras@jpmchase.com

motors for Lithium Americas’ Thacker Pass lithium processing plant in Nevada, Latin American Transportation

a project backed by a US$2.23bn U.S. Department of Energy loan. Thacker Pass, AC Guilherme Mendes

owned by a joint venture between Lithium Americas (62%) and General Motors (55-11) 4950-4105

(38%), targets mechanical completion by end of 2027 with production ramp-up guilherme.g.mendes@jpmorgan.com

through 2028, aiming to produce around 40k metric tons per year of battery-grade Julia Orsi

lithium carbonate – Bloomberg Línea (Jun. 26). (55-11) 4950 3351

julia.orsi@jpmorgan.com

• Ultra Group abandons Rumo acquisition. Ultra Group formally withdrew Banco J.P. Morgan S.A.

from acquiring Rumo, Latin America’s largest private railway operator, which