- $450 million equity investment supports Electrify America’s expansion plansin U.S. and Canada
- Siemens is first external investor in Electrify America LLC and becomes new shareholder; in line with company’s commitment to accelerate the shift to sustainable mobility
- $2.45 billion post-money valuation for Electrify America confirms Volkswagen’s successful e-mobility strategy in North America
- NEW AUTO: Charging & Energy is strategic pillar and core business of the Volkswagen Group
The Volkswagen Group and Siemens support the ambitious growth plans of Electrify America, LLC – the largest public ultra-fast charging network for electric vehicles from all vendors in North America. Volkswagen together with Siemens, the leading global technology company, is investing $450 million, valuing Electrify America at $2.45 billion. Through its financing arm Siemens Financial Services (SFS), Siemens becomes a minority shareholder in Electrify America with a low triple-digit million USD investment and will hold a seat on the board.