Volkswagen and Siemens invest in Electrify America’s growth plans

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Electrify America is the largest public ultra-fast charging network for electric vehicles from all vendors in North America. Volkswagen and Siemens are investing US$450m, valuing Electrify America at US$2.45bn.

The capital investment will support technological advancements in charging and energy solutions across public, home and commercial offerings, strengthening future collaboration between Siemens and Electrify America.

With Siemens, Electrify America has received its first external investor and strategic technology partner. Volkswagen’s decision to invest is borne from its NEW AUTO strategy, centred around the expansion of charging infrastructure in the US and Canada. Through its financing arm Siemens Financial Services (SFS), Siemens becomes a minority shareholder in Electrify America with a seat on the board.

Veronika Bienert, CEO, Siemens Financial Services, added, “Representing one of Siemens’ largest investments in electrified transportation, this strategic partnership with Electrify America aims to grow a collaborative ecosystem that propels EV adoption across the United States and Canada.”

As a full-service provider of e-Mobility charging infrastructure, Siemens eMobility offers the full spectrum of state-of-the-art AC and DC charging hardware, software and services – from residential to commercial to depot applications.

With the NEW AUTO strategy, the Volkswagen Group has made charging and energy its core business. The company is investing in the development of an open fast-charging network worldwide. By 2025, around 45,000 High Power Charging (HPC) points are planned in Europe, China and the USA together with partners. The product range also includes the entire range of charging solutions for private customers and companies – from the company’s own wallbox and flexible fast charging station to charging services and innovative, smart green electricity tariffs. Volkswagen intends anchor the electric car as a mobile power bank in the energy system.

Thomas Schmall, Volkswagen Group Board Member for Technology and CEO of Volkswagen Group Components, said, “The plan is to more than double Electrify America’s charging infrastructure to 1,800 locations and 10,000 fast chargers by 2026. Siemens’ investment confirms our electrification strategy of making charging and energy solutions available nationwide – to customers of all EVs. With its expertise and portfolio, Siemens is an important strategic technology partner for us on this route.”

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