Siemens to carve out EV charging business


BERLIN (Reuters) – Siemens plans to carve out its electric vehicle (EV) charging
BERLIN (Reuters) – Siemens plans to carve out its electric vehicle (EV) charging business, Siemens eMobility, to open opportunities for more growth, the German conglomerate said on Monday.
The carve-out will combine Siemens eMobility with recently acquired DC fast-charging solutions specialist Heliox, said Siemens.
The new setup of eMobility will enable the business to accelerate profitability by focusing on high potential business segments and strategically relevant geographies,” said Matthias Rebellius, Siemens AG managing board member.
(Writing by Miranda Murray, Editing by Rachel More)
EV charging refers to the process of supplying electric energy to electric vehicles (EVs) through charging stations, enabling them to recharge their batteries for operation.
A carve-out is a business strategy where a company separates a portion of its operations or assets to create a new entity, often to enhance focus and growth potential.
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