Volkswagen In Talks To Sell Stake In US EV Charging Business To Siemens: WSJ

• Volkswagen AG (OTC:VWAGY) is nearing a deal to divest a minority stake in its U.S. electric vehicle charging business to a division of Siemens AG (OTC:SIEGY), the Wall Street Journal reported.
• The deal, if realized, would value Volkswagen’s Electrify America LLC at more than $2 billion.
• The report added that the funds will be used for Electrify America’s plan to expand its EV charging stations across the U.S. and parts of Canada to 1,800 by 2026.
• In August 2021, Siemens announced plans to expand its charging equipment manufacturing operations in the U.S. 
• Price Action: VWAGY shares closed higher by 0.65% at $19.34 on Monday.
• Photo Via Wikimedia Commons