Volkswagen Group, Siemens invests $450M in Electrify America
Green Car Congress
JUNE 29, 2022
The Volkswagen Group and Siemens are investing $450 million in Electrify America, with a post-money valuation of $2.45 billion. Through its financing arm Siemens Financial Services (SFS), Siemens becomes a minority shareholder in Electrify America with a low triple-digit million USD investment and will hold a seat on the board. Siemens is the first external investor in Electrify America.