Volkswagen has agreed to sell a minority stake in its US electric-vehicle charging business Siemens In a transaction that provided $450 million in new money and valued the charging network at $2.45 billion, the companies said Tuesday.
Bringing Siemens to Volkswagen’s Electrify America LLC generates additional funding to drive expansion of EV charging that aims to maximize Double the number of charging stations That Electrify America operates up to 1,800 across the US and parts of Canada by 2026. Reston, Va.-based Electrify America also offers EV charging stations for at-home use.