The Volkswagen Group and Siemens have invested 450 million USD in the Electrify America ultra-fast electric vehicle charging network.
Electrify America is parented by Volkswagen Group and is North America’s largest public ultra-fast charging network serving electric vehicles from all manufacturers.
Through its Siemens Financial Services (SFS) branch, Siemens has become Electrify America’s first external investor. As a key technology partner, Siemens will assist Electrify America in accelerating public charging infrastructure across the US and Canada.
Veronika Bienert, CEO, Siemens Financial Services said: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. 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.
This partnership will support Electrify America’s growth by leveraging Siemens’s technologies and services to drive the expansion of Electrify America’s high-quality, reliable charging network.
Meanwhile, Volkswagen’s investment advances the manufacturer’s NEW AUTO strategy, which prioritises charging and energy within the Volkswagen Group business.
Thomas Schmall, Volkswagen Group Board Member for Technology and CEO of Volkswagen Group Components said: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.
Alongside its Electrify America project, Volkswagen is investing in developing an open fast-charging network worldwide. By 2025, the manufacturer plans to install 45,000 High Power Charging points in Europe, China and the USA.
