The Volkswagen Group and Siemens are investing $450 million in Electrify America, with a post-money valuation of $2.45 billion. By its financing arm Siemens Monetary Companies (SFS), Siemens turns into a minority shareholder in Electrify America with a low triple-digit million USD funding and can maintain a seat on the board. Siemens is the primary exterior investor in Electrify America.
The dedication aligns with Siemens’ continued efforts to advance open and accessible US electrical car charging infrastructure and its broader targets of decarbonization. The funding additionally lays the groundwork for future collaboration between Siemens Good Infrastructure and Electrify America on the applied sciences and providers that can proceed the build-out of high-quality, dependable charging options.
The Volkswagen Group had earlier made a capital dedication of $2 billion by 2026. In making this incremental dedication, Volkswagen famous Electrify America’s important momentum, accelerated development, and long-term worth of its ultra-fast charging community.
With our current funding, we verify our dedication to continue to grow within the Charging and Power enterprise. Siemens’ funding validates our electrification technique to offer charging and vitality options nationwide, and the corporate is a major strategic know-how and electrification associate for us on this route.
—Thomas Schmall, Volkswagen Group Board of Administration member for Know-how and CEO of Volkswagen Group Elements
The investments will help Electrify America’s accelerated development plans by technological developments in charging and vitality options throughout public, dwelling and business choices. Particularly, in making the announcement, Electrify America stated the funding highlights the long-term development and viability of Electrify America’s plans to broaden to 1,800 charging stations and greater than 10,000 ultra-fast chargers within the US and Canada by 2026.
As a full-service supplier of e-Mobility charging infrastructure, Siemens eMobility presents the total spectrum of state-of-the-art AC and DC charging {hardware}, software program and providers—from residential to business to depot purposes.
With the NEW AUTO technique, the Volkswagen Group has made charging and vitality its core enterprise. By 2025, round 45,000 Excessive Energy Charging (HPC) factors are deliberate in Europe, China and the USA along with companions. The product vary additionally consists of the complete vary of charging options for personal clients and firms—from the corporate’s personal wallbox and versatile quick charging station to charging providers and modern, sensible inexperienced electrical energy tariffs. Within the subsequent step, Volkswagen will anchor the electrical automobile as a cell energy financial institution within the vitality system creating further added worth for e-car clients.
