Siemens to carve out EV charging business

SIEMENS plans to carve out its electric vehicle (EV) charging business, Siemens eMobility, to provide opportunities for growth in the rapidly-evolving industry, the German conglomerate said on Monday (Sep 23).

The carve-out will combine Siemens eMobility with recently acquired DC fast-charging solutions specialist Heliox, said Siemens.

Across Europe, North America and Asia, the EV charging sector has been undergoing rapid growth and consolidation, with many charging companies bought up by big energy companies including Shell and BP since 2017.

Heliox, focused on chargers for eBus fleets and eTrucks, has competitors including ABB, Sweden’s Vattenfall and ChargePoint.

The acquisition of the Dutch company is targeted at extending market reach primarily in Europe and North America, Siemens said.

Speaking on Siemens’ plans to further grow its EV charging business, managing board member Matthias Rebellius said the carve-out would “accelerate profitability by focusing on high potential business segments and strategically relevant geographies.” REUTERS