Volkswagen Sells Stake in Electrify America to Siemens

By Kevin Colleran On Jun 28, 2022

Volkswagen has agreed to sell a minority stake in its U.S. electric-vehicle charging business to Siemens in a transaction that provides $450 million in new money and values the charging network at $2.45 billion, the companies said Tuesday.

Bringing Siemens into Volkswagen’s Electrify America LLC generates additional funding to drive an expansion of EV charging that aims to more than double the number of charging stations that Electrify America operates across the U.S. and parts of Canada to 1,800 by 2026. Reston, Va.-based Electrify America also offers EV charging stations for use at home.

Stay connected with us on social media platform for instant update click here to join our T witter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Technology News Click Here

For the latest news and updates, follow us on Google News.

Read original article here

Denial of responsibility! TechiLive.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.