Electrify America Raises $450 Million To Further Boost Expansion

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Electrify America Raises $450 Million To Further Boost Expansion

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Electrify America announced today that it has raised $450 million worth of equity investment into the company at an after-money value at $2.45 billion.

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Two companies were part of the round namely Siemens through its financing subsidiary Siemens Financial Services (SFS) as well as Volkswagen Group.

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For Siemens this is "a low three-digit million dollar value" (one of Siemens the largest investments made into electrified transport) and an appointment in the board.

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In this manner Siemens has become Siemens is the German firm has become the first outside investor to Electrify America.

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Volkswagen Group Volkswagen Group, from which Electrify America originated, is expanding the capital investment of Electrify America beyond its original pledge of $2 billion to 2026.

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As per the news release Siemens is investing in laying the foundation in the future for collaborations with Siemens Smart Infrastructure and Electrify America.

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There aren't any specifics regarding the matter, but when you consider this fact Siemens is an important producer of DC fast chargers.

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in the near future we could get more Siemens chargers in electrify America stations.

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