Siemens $450 Million Investment In Electrify America Shows EV Revolution Is Moving Forward

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Electrify America announced this week that Siemens has made a $450 million investment in its EV charging network.

Challenges can sometimes lead to opportunities. When Volkswagen got caught doctoring the software in its diesel-powered passenger cars, it had to pony up $5 billion in penalties to the US federal government and the various states to atone for its sins. Part of that included $2 billion to create Electrify America, a network of mostly DC fast chargers similar to the Tesla Supercharger system.

Thomas Schmall, Volkswagen board member for technology, emphasizes: “With our recent investment, we confirm our commitment to keep growing in the charging and energy business. We are supporting e-mobility in North America to more than double Electrify America’s charging infrastructure to 1,800 sites and 10,000 ultra-fast chargers by 2026.

“Siemens’ expertise in electric vehicle charging infrastructure and technology is a natural complement to Electrify America as we lead the transition to an eMobility transportation system in North America,” said Giovanni Palazzo, president and CEO of Electrify America. “We remain committed to our mission to rapidly expand ultra-fast and seamless charging to deliver a positive customer experience for electric vehicle owners both now and in the future.

 

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