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Tuesday, June 28, 2022

WSJ: Volkswagen Nears Deal to Sell Stake in Electrify America to Siemens

Volkswagen AG is close to selling a minority stake in its U.S. electric-vehicle charge business to an arm of Siemens AG, a deal that would value the network at more than $2 billion, according to people familiar with the matter. A sale of a stake in Volkswagen's Electrify America LLC would generate additional funding as part of a plan to more than double the number of EV charging stations that Electrify America operates across the U.S. and parts of Canada to 1,800 by 2026.