Siemens exits EV charging market

According to the Wall Street Journal, Siemens is to exit its electric vehicle (EV) charging points business, as demand and market development turned out weaker than expected. Despite a government plan to see one million registered electric cars on German roads by 2020, consumers haven't been keen about such vehicles. Last year for instance, only 4,157 e-cars were newly registered in Germany, bringing the total to 7,112.
September 4, 2013 Read time: 1 min
According to the Wall Street Journal, 189 Siemens is to exit its electric vehicle (EV) charging points business, as demand and market development turned out weaker than expected.

Despite a government plan to see one million registered electric cars on German roads by 2020, consumers haven't been keen about such vehicles. Last year for instance, only 4,157 e-cars were newly registered in Germany, bringing the total to 7,112.

"It's true that we're withdrawing from that business segment, because the e-mobility market has grown more slowly than originally expected," the company said in a statement. "Together with the staff council, we're currently looking for a solution as to where to employ the workers affected by the move."

The company emphasised, though, that it would continue to make so-called wall boxes for recharging e-cars privately at home. It would also continue research on inductive, that is, cable-less charging techniques.

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