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Volkswagen And Siemens Invest $450 Million In Electrify America

Aims to add 10,000 chargers by 2026

Published December 16, 2022

The Volkswagen Group and Siemens announced $450 million equity investment in Electrify America to support the ambitious growth plans of the North America fast charging network. With the Volkswagen Group‘s original commitment of $2 billion through 2026, the total evaluation of Electrify America increased to $2.45 billion. Thanks to the investment of a low triple-digit million USD amount, Siemens – through its financing arm Siemens Financial Services (SFS) – has become the first external investor in Electrify America and a minority shareholder with one seat on the board. The move very likely puts Siemens in a pole position for contracts for new DC fast chargers for the Electrify America network, but not necessarily mean that it will be an exclusive supplier (at least there is no official announcement about that). So far, Electrify America relied on several equipment suppliers.

 

Volkswagen And Siemens Invest $450 Million In Electrify America

 

Electrify America: 10,000 chargers by 2026

Electrify America positions itself as the largest open ultra-fast electric vehicle charging network in North America.

The company currently operates more than 750 stations with a few thousands of individual DC fast chargers (usually rated at up to 150 kW or up to 350 kW), installed in the US and Canada (through Electrify Canada).

  • Stations: 758 (+76 „coming soon”)
  • DC chargers: 2,537 CCS, 743 CCS-CHAdeMO
  • AC Level 2: 116

In 2021, the network delivered 41.4 GWh of energy, through 1.45 million customer charging sessions (compared to 268,000 in 2020), which is nearly 29 kWh per session on average.

 

The map of Electrify America fast charging stations across the US, as of late June 2022.

The map of Electrify America fast charging stations across the US, as of late June 2022.

 

By 2026, the company would like to more than double its charging network, to 1,800 sites and 10,000 ultra-fast chargers. We can estimate that to achieve the milestone by the end of 2026, Electrify America will have to install up to 20 new stations per month. A single station, depending on location, might be equipped with a few to over 10 stations. High-traffic locations may even have dozens of chargers. Besides the general expansion of the network coast-to-coast and building bigger stations with on-site battery energy storage systems, Electrify America recently highlighted multiple other enhancements, which will make the stations better and more customer friendly. Those include: solar canopies and awnings, customer waiting areas with on-site security cameras and additional lighting, and other customer-focused services.

By: Staff Writer

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