LatAm Capital Goods & Transportation Road Ahead (Jun. 8): BESS Auction in December, EMBJ View on China and India, Malha Sul Update

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LatAm Capital Goods & Transportation Road Ahead (Jun. 8): BESS Auction in December, EMBJ View on China and India, Malha Sul Update

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

08 June 2026

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LatAm Capital Goods &

Transportation

Road Ahead (Jun. 8): BESS Auction in December,

EMBJ View on China and India, Malha Sul Update

Upcoming Events This Week Latin American Capital Goods

• Mon. (Jun. 8): IMEA Data @ 5pm ET Marcelo Motta AC (55-11) 4950-6712

marcelo.g.motta@jpmorgan.com• Tue. (Jun. 9): RAIL Monthly Volumes - AMC

• Thu. (Jun. 11): ANFAVEA Data Jonathan S. Koutras

(55-11) 4950-3549

Top News from Past Week: jonathan.s.koutras@jpmchase.com

Latin American Transportation

• Brazil schedules two BESS auctions for December with different local AC Guilherme Mendes content rules. Brazil's Ministry of Mines and Energy scheduled two

(55-11) 4950-4105

unprecedented battery energy storage system (BESS) auctions for December guilherme.g.mendes@jpmorgan.com

2026 – one on December 2nd exclusively for projects meeting local content

Julia Orsi

requirements, and another on December 4th open to all suppliers. The split was (55-11) 4950 3351

a compromise after months of delays caused by disagreements over julia.orsi@jpmorgan.com

nationalization rules. Auctions are expected to contract a total of 2GW in battery Banco J.P. Morgan S.A.

capacity, mobilizing around R$10bn in investments, and it’s a key driver for

WEG’s (N-rated) top line. Winners must begin operations by August 2028 under