VW wants to sell its stake in the electric charging network, Electrify America

In 2016, immediately after the Dieselgate scandal, Volkswagen was forced to set up – along with other companies – Electrify America, a company with a network of charging infrastructure for electric vehicles, whose chargers can be used by owners of electric vehicles of an independent company.

Under the deal with the US government, the German company is to spend $ 2 billion on Electrify America by 2026, but according to two anonymous Reuters sources, Volkswagen is seeking to sell its stake in Electrify America.

Volkswagen is working with financial institution Citi to find a co-investor who would be willing to contribute about $ 1 billion to the company, with the German carmaker in contact with other companies with electric vehicle chargers in the US for help.

The move is a first sign of what VW plans to do with Electrify America, when it will no longer be legally required to be in charge.

Electrify America’s electric vehicle charging network has become one of the largest in America, with 635 charging stations with 2,800 charging points. This network is smaller than Tesla, with around 1,100 Supercharger stations across North America, with more than 23,000 charging points. worldwide.

Source: Autoblog.gr by www.autoblog.gr.

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