Challenges can sometimes lead to opportunities. When Volkswagen was caught tampering with the software in its diesel-powered passenger cars, it had to pay $ 5 billion in fines to the US federal government and the various states to atone for its sins. Part of that included $ 2 billion to create Electrify America, a network of mostly DC fast chargers similar to the Tesla Supercharger system. To date, EA says it has created 758 loading bays in the United States, with another 76 opening soon. There are 3,010 DC high-speed chargers in operation – an average of a little over 4 per location – plus 116 Level 2 AC chargers in different locations.
Electrify America announced this week that Siemens Financial Services, a division of Siemens AG, has agreed to invest $ 450 million in the company and will have a seat on the EA board in the future. The new investment is part of Siemens’ continued efforts to promote open and accessible US charging infrastructure for electric vehicles and its broader goals of decarbonisation. The investment also lays the foundation for future collaboration between Siemens Smart Infrastructure and Electrify America on the technologies and services that will continue the development of high-quality, reliable charging solutions.
In addition, Volkswagen Group is increasing its capital investment in Electrify America beyond its original $ 2 billion commitment by 2026, noting Electrify America’s significant momentum, accelerated growth and long-term value of its ultra-fast charging network. It’s the silver lining in the Dieselgate cloud. Although Electrify America is not allowed to brand itself as an instrument of Volkswagen, this latest investment from an outside company suggests that the network may one day be a lucrative investment and not just an albatross around Volkswagen’s neck.
Thomas Schmall, Volkswagen Technology Adviser, emphasizes: “With our recent investment, we are reaffirming our commitment to continue to grow the charging and energy business. We support e-mobility in North America to more than double Electrify America’s charging infrastructure by 2026 to 1,800 sites and 10,000 ultra-fast chargers. strategic technology and electrification partner for us on this route. ”
The investments will support Electrify America’s accelerated growth plans through technological advances in charging and energy solutions that include public, home and commercial offerings.
“Siemens’ expertise in electric vehicle charging infrastructure and technology is a natural complement to Electrify America as we lead the transition to an eMobility transportation system in North America,” said Giovanni Palazzo, President and CEO of Electrify America , said. “We remain committed to our mission of rapidly and seamlessly expanding charging to deliver a positive customer experience for electric vehicle owners, both now and in the future.”
“This strategic partnership with Electrify America represents one of Siemens’ largest investments in electrified transportation and aims to grow a collaborative ecosystem that drives EV adoption across the United States and Canada,” said Veronika Bienert, CEO, Siemens Financial Services. “Our unique ability to combine financial and technological knowledge helps to meet Siemens’ commitment to decarbonising key industries, accelerating the shift to sustainable mobility and doing so in a way that is accessible to all.”
One of the biggest complaints about public EV chargers is that so many of them are not working properly. With a global electronics company like Siemens playing a bigger role, Electrify America is about to set the standard for reliable EV charging in America. It is likely that “plug and charge” technology will also be part of the company’s expansion plans.
Electrify America is also leading the way forward by designing charging stations that are inviting, safe and comfortable, a trend that others will tend to follow. The better and more reliable EV charging becomes, the faster the EV Revolution will move forward. And to think none of this would have happened if Volkswagen had not been caught in that diesel cheating scandal.
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