Siemens to Carve out Electric Vehicle Charging Business to Enable next Level of Growth
September 23, 2024
Siemens has announced the intention to carve out its eMobility business. The company bundled its eMobility charging activities in 2018 and subsequently organized it into a separate business unit in 2022.
The carve out of Siemens eMobility, which has a strong technological core and portfolio, will give the business entrepreneurial freedom to transform into a more agile, focused and efficient market player. It will enable Siemens eMobility to better leverage opportunities in the fast-growing and dynamic electric vehicle (EV) charging infrastructure market.
Siemens has made targeted organic investments to build the eMobility business’ technology leadership and strengthen the product portfolio. The business has also executed multiple acquisitions including most recently Heliox, a specialist in DC fast charging solutions, focused on eBus and eTruck fleets. The Heliox acquisition extended Siemens’ market reach, primarily in Europe and North America, while improving capabilities in power electronics.
The upcoming carve-out will combine Siemens eMobility and Heliox into a dedicated legal structure, well-positioned to build on the experience and innovation of Siemens and the pioneering culture of Heliox. This future setup will create optimal conditions to drive progress and expand leadership in the market, further accelerating the sustainable transformation of mobility.
“The new setup of eMobility will enable the business to accelerate profitability by focusing on high potential business segments and strategically relevant geographies. It will have more freedom to define its focus areas based on business strengths. This business will be well positioned to foster new partnerships to increase customer access through new sales channels and enrich capabilities in new end markets,” said Matthias Rebellius, Member of the Managing Board of Siemens AG and CEO of Smart Infrastructure. “Building up charging infrastructure for electric vehicles is crucial to achieving the electrification of transport, a central piece in the aspiration to reach net zero by 2050.”
