Volkswagen Nears Deal to Sell Stake in Electrify America to Siemens

Volkswagen is shut to promoting a minority stake in its U.S. electric-vehicle cost enterprise to an arm of Siemens a deal that may worth the community at greater than $2 billion, in accordance to folks accustomed to the matter.

A sale of a stake in Volkswagen’s Electrify America LLC would generate extra funding as a part of a plan to greater than double the variety of EV charging stations that Electrify America operates throughout the U.S. and elements of Canada to 1,800 by 2026. Reston, Va.-based Electrify America additionally provides EV charging stations to be used at residence.