Volkswagen In Talks To Sell Stake In US EV Charging Business To Siemens: WSJ

  • Volkswagen AG VWAGY is nearing a deal to divest a minority stake in its U.S. electric vehicle charging business to a division of Siemens AG SIEGY, the Wall Street Journal reported.
  • The deal, if realized, would value Volkswagen’s Electrify America LLC at more than $2 billion.
  • The report added that the funds will be used for Electrify America’s plan to expand its EV charging stations across the U.S. and parts of Canada to 1,800 by 2026.
  • In August 2021, Siemens announced plans to expand its charging equipment manufacturing operations in the U.S. 
  • Price Action: VWAGY shares closed higher by 0.65% at $19.34 on Monday.
  • Photo Via Wikimedia Commons

Posted In: BriefsNewsMedia

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.