Siemens investing in Volkswagen's Electrify America
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 of management member for technology and CEO of Volkswagen Group Components, said in a prepared statement that plans are to more than double Electrify America's charging infrastructure to 1,800 sites and 10,000 ultra-fast chargers by 2026.
Let us know if there is a problem with our content
Use this form if you have come across a typo, inaccuracy or would like to send an edit request for the content on this page.
For general inquiries, please use our contact form.
For general feedback, use the public comments section below (please adhere to guidelines).
Thank you for taking time to provide your feedback to the editors
Your feedback is important to us. However, we do not guarantee individual replies due to the high volume of messages.
This article has been reviewed according to Science X's editorial process
and policies.
Editors have highlighted the following attributes while ensuring the content's credibility:
E-MAIL THE STORY
Siemens investing in Volkswagen's Electrify America
Tech Xplore provides the latest news and updates on information technology, robotics and engineering, covering a wide range of subjects.
Tech Xplore is a part of Science X network.
With global reach of over 5 million monthly readers and featuring dedicated websites for hard sciences, technology, medical research and health news,
the Science X network is one of the largest online communities for science-minded people.
Identify the news topics you want to see and prioritize an order.
Science never stops. Get notified about trending stories.
Your privacy
This site uses cookies to assist with navigation, analyse your use of our services, collect data for ads personalisation and provide content from third parties.
By using our site, you acknowledge that you have read and understand our Privacy Policy
and Terms of Use.