Siemens Aims To CRUSH Tesla's Supercharger Network

Electric Vehicles / Comments

With a $450 million dollar investment in another charging network.

Charging an electric vehicle in the United States is getting easy with each passing year, as America's charging infrastructure continues to expand rapidly. Companies like Electrify America (EA), a subsidiary of Volkswagen Group, are pouring tons of cash into their expansions, but sometimes internal funding just isn't enough. That's why EA has just announced Siemens, a global technology company, will become a minority shareholder with a massive $450 million investment.

This is the first external investment in EA, but it won't stop the VW Group from raising its initially promised $2 billion investment through 2026. VW says it justified the increased funding based on EA's momentum, accelerated growth, and long-term value.

Electrify America
Electrify America
Electrify America
Electrify America

The new partnership will allow EA to benefit from Siemens Smart Infrastructure, which could help create a more reliable charging infrastructure. Outside of Tesla's one-make Supercharger Network, charging an electric vehicle is far from a uniform process, ranging from painless to outright rage-inducing. That's because the EA network needs to talk with every electric vehicle, ranging from the GMC Hummer EV Pickup to the Volkswagen ID.4. Large investments and collaborations, like this recent one with Siemens, could do wonders to improve existing communication issues.

"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," said Veronika Bienert, CEO of Siemens Financial Services. "Our unique ability to combine financial and technology know-how helps to fulfill Siemens' commitment to decarbonize key industries, accelerate the shift to sustainable mobility, and do so in a way that's accessible for all."

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"With our recent investment, we confirm our commitment to keep growing in the Charging and Energy business," says Thomas Schmall, CEO of Volkswagen Group Components. "We are supporting eMobility 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' investment validates our electrification strategy to provide charging and energy solutions nationwide, and the company is a significant strategic technology and electrification partner for us on this route."

This investment will also help EA deliver on promises like futuristic charging stations with lounges and other amenities. EA also plans to add chargers across Bank Of America locations around the US, in addition to other high-traffic shopping areas. It won't happen overnight, but the charging infrastructure will improve rapidly.

Electrify America
Electrify America
Electrify America

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