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.
