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Volkswagen Sells Stake in Electrify America to Siemens

·5 min read
Volkswagen Sells Stake in Electrify America to Siemens
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The German auto maker has agreed to sell a minority stake in its U.S. electric-vehicle charging business to Siemens—a transaction that provides $450 million in new money and values the charging network at $2.45 billion, the companies said.