Siemens to carve out eMobility business to accelerate EV charging growth

Siemens has announced plans to carve out its eMobility business, which the firm argues will allow it to focus on rapidly expanding its presence in the EV charging market. 

The move will combine Siemens eMobility with Heliox, a specialist in DC fast charging solutions for eBus and eTruck fleets that Siemens acquired earlier this year, into a dedicated legal entity. Unlike a spin-off, however, a carve out typically means that the parent company will receive an injection of cash as it sells off shares in the new entity, reducing its stake as it welcomes new investors. 

Siemens says that the carve-out aims to provide the business with greater entrepreneurial freedom, allowing it to better leverage opportunities and become a more efficient market player. Siemens had previously bundled its eMobility charging activities in 2018 and organised them into a separate business unit in 2022.

By integrating Heliox, the new setup seeks to drive progress and expand its presence in the market, contributing to 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.”