Volkswagen, Siemens invest US$450-M to grow US, Canada charging network

Volkswagen, Siemens invest US$450-M to grow US, Canada charging network

MANILA: The ambitious expansion plans of Electrify America, LLC, the largest public ultra-fast charging network for electric vehicles from all vendors in North America, are backed by the Volkswagen Group and Siemens. Volkswagen is spending US$450 million alongside Siemens, the leading global technology firm, giving Electrify America a US$2.45-billion value. With a low triple-digit million USD investment through its financing unit Siemens Financial Services (SFS), Siemens becomes a minority shareholder in Electrify America and will have a seat on the board.

KEY TAKEAWAYS

  • By how much does Electrify America plan to grow its charging infrastructure by 2026?

    Electrify America plans to more than double its charging infrastructure to 1,800 locations and 10,000 fast chargers by 2026.
  • How many high-power charging points does Volkswagen target to install in the USA, China, and Europe by 2025?

    Volkswagen aims to install over 45,000 high-power charging points in the USA, China, and Europe by 2025.
  • With Siemens, Electrify America gets its first external investor and a significant strategic technology partner. This move progressively accelerates the comfort, quality, and expansion of the public charging infrastructure in the US and Canada, aligning with Volkswagen's New Auto strategy.

    “With our additional investment in Electrify America, we are giving e-mobility in North America a further boost... consistently growing 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,” Volkswagen Group Board for Technology Member and Volkswagen Group Components CEO Thomas Schmall stated.

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

    A strategic partnership between Electrify America and Siemens is represented by the investments made by Volkswagen and SFS. The capital investment will first support Electrify America's expedited growth plans by enabling technological advancements in energy and charging solutions for public, residential, and commercial offerings. Second, Siemens' investment underscores its commitment to working with Electrify America in the future to develop technology and services that will fuel the growth of dependable, high-quality charging solutions. As a full-service provider of e-Mobility charging infrastructure,  Siemens e-Mobility offers a full range of cutting-edge AC and DC charging hardware, software, and services — from residential to commercial to depot applications.

    The Volkswagen Group has made charging and energy its topmost priority with the New Auto strategy. The company is making investments in the establishment of an open fast-charging network worldwide. Together with partners, the group aims to install over 45,000 high-power charging (HPC) points in the USA, China, and Europe by 2025. The full spectrum of charging solutions for both private customers and businesses is also included in the product range, from the company's own wallbox and adaptable fast charging station to charging services and cutting-edge, smart green electricity tariffs. Volkswagen's next move will be to integrate the electric vehicle into the energy system as a mobile power bank, giving e-car buyers added value.

    Photo from Volkswagen

    Also read: ID. Aero concept is preview of Volkswagen’s first fully electric sedan

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