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Siemens Retreats from E-Car Charging Station Business

Industrial conglomerate Siemens AG (SI) said Tuesday it will exit its electric car charging points business, as demand and market development turned out weaker than expected.

The company will try to find alternative solutions for staff presently employed in that segment, a Siemens spokeswoman told the Wall Street Journal Deutschland.

“We are working together with the trade unions on this,” she said.

The Mobility and Logistics division employs more than 10,000 staff, but the spokeswoman said the segment that deals with charging points employs only a small percentage of those.

Die Welt newspaper previously reported Siemens’ planned exit from the business. The paper cited the company as saying it would continue to offer wall boxes for private households to charge electric cars at home.

Further, they would continue activities with motors for electric cars, as well as technology that would allow for wireless charging, the paper added.
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