Siemens to give vehicle-charging business new structure

German tech and manufacturing giant Siemens on Monday announced plans to set up its e-mobility business for vehicle charging under a new structure, reported dpa.

The upcoming carve-out will combine Siemens eMobility and Heliox into a dedicated legal structure.

"The new setup of eMobility will enable the business to accelerate profitability by focusing on high potential business segments and strategically relevant geographies. 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 the head of Smart Infrastructure.

Siemens eMobility offers hardware enabled to work with the so-called "internet of things," as well as software and services for AC and DC charging from 11 kilowatt to 1 megawatt for a broad range of applications.

It has production and R&D sites in Germany, Portugal, the United States, India and the Netherlands.