Volkswagen Group subsidiary Electrify America said Tuesday it raised $450 million in a deal that includes its first external investor as it aims to accelerate its rollout of ultra-fast charging stations in the U.S. and Canada.
The deal, which values North America’s largest ultra-fast EV charging network at $2.45 billion, includes more than $100 million from German industrial company Siemens and additional capital from VW Group.
The money will help Electrify America toward its goal of more than doubling its footprint to 10,000 ultra-fast chargers across 1,800 charging stations in both countries
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