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{"id":8928,"date":"2022-06-29T14:40:16","date_gmt":"2022-06-29T14:40:16","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/06\/29\/vw-sells-minority-stake-in-electrify-america-to-siemens\/"},"modified":"2022-06-29T14:40:17","modified_gmt":"2022-06-29T14:40:17","slug":"vw-sells-minority-stake-in-electrify-america-to-siemens","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/06\/29\/vw-sells-minority-stake-in-electrify-america-to-siemens\/","title":{"rendered":"VW sells minority stake in Electrify America to Siemens"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/6\/28\/23186289\/vw-sells-minority-stake-electrify-america-siemens-ev-charging<\/a>
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Volkswagen sold a minority stake in its electric vehicle charging division, Electrify America, to Siemens in a deal that values the company at $2.45 billion. The two companies are jointly investing $450 million to double the number of Electrify America charging stations in the US and Canada by 2026. (The news was first reported by The Wall Street Journal<\/em><\/a>.)<\/p>\n

The news comes amid a spike in EV sales in the US \u2014 although they still only represent a fraction of overall car sales. It also comes as the Biden administration, fueled with $5 billion in funding as part of the president\u2019s infrastructure plan<\/a>, embarks on a plan to build 500,000 EV chargers by 2030. <\/p>\n

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