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Siemens Invests in Sustainable Mobility

Siemens Invests in Sustainable Mobility
Photo shows: ID.4 – Combined energy consumption in kWh/100 km (NEFZ): 14.8; combined CO2 emissions in g/km: 0; efficiency rating: A+++

(AP) — The German industrial company Siemens will invest more than $100 million in a network of electric vehicle charging stations in North America operated by Volkswagen.

Siemens is the first outside investor in the project, Electrify America said Tuesday, and the company is being granted a seat on its board. The network in total has added $450 million in funding, which includes an increased capital investment from Volkswagen Group. Volkswagen originally committed to $2 billion through 2026.

The U.S. has a long way to go in adding infrastructure for electric vehicles, with states like California attempting to triple EV sales within four years.

Soaring gas prices have contributed to the push for adding more stations.

Thomas Schmall, Volkswagen Group Board Member for Technology and CEO of Volkswagen Group Components emphasizes: “With our additional investment in Electrify America, we are giving e- mobility in North America a further boost and consistently grow our charging and energy business. 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.”

“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,” said Veronika Bienert, CEO, Siemens Financial Services. “Our unique ability to combine financial and technology know-how helps to fulfill Siemens’ commitment to decarbonize key industries, accelerate the shift to sustainable mobility, and do so in a way that’s accessible for all.”

The investments by Volkswagen and Siemens Financial Services represent a strategic partnership for Electrify America and Siemens: first, the capital investment will support Electrify America’s accelerated growth plans through technological advancements in charging and energy solutions across public, home and commercial offerings. Second, Siemens’ investment strengthens the commitment to future collaboration between Siemens and Electrify America on technologies and services that will drive the expansion of high-quality, reliable charging solutions. 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.

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