VW to divest EA stake

[RonTCat]

https://www.autonews.com/mobility-r...kingNews+(Automotive+News+Breaking+News+Feed)

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[Jimmy2]

I wasn't clear about this. Are they divesting? Or are they looking to add a partner/investor to expand the EA network? I'm thinking they want to add a partner which of course would mean they would have to sell that partner some shares.

 

[timbop]

I wasn't clear about this. Are they divesting? Or are they looking to add a partner/investor to expand the EA network? I'm thinking they want to add a partner which of course would mean they would have to sell that partner some shares.

I read it as an additional investor, but who knows if they'll really put all the cash into the business. I just hope it isn't Shell - or god forbid ExxonMobil - because those pirates will surely do all they can to kill EV charging.

 

[SeattleMachE]

So they’re looking to bring in additional investors to boost $$ for further buildout. It would be cool to see Ford and others to step in to accelerate the expansion and tighten up the integration between charger and vehicle.

 

[OlyPen]

I read it as an additional investor, but who knows if they'll really put all the cash into the business. I just hope it isn't Shell - or god forbid ExxonMobil - because those pirates will surely do all they can to kill EV charging.

Shell owns Greenlots, so probably not them. My guess is Ford goes in on it like they did with Ionity in Europe with Volkswagen and extend their VW EV partnership... As well as get a leg up on Tesla by owning a charging network in the US.

 

[timbop]

Shell owns Greenlots, so probably not them. My guess is Ford goes in on it like they did with Ionity in Europe with Volkswagen and extend their VW EV partnership... As well as get a leg up on Tesla by owning a charging network in the US.

That would definitely be nice.

 

[OlyPen]

That would definitely be nice.

But, you know, anything can go sideways and upside. LOL so don't rush into investing in anything based on my rushed and half baked assumptions.

 

[timbop]

But, you know, anything can go sideways and upside. LOL so don't rush into investing in anything based on my rushed and half baked assumptions.

Don't worry, I haven't written a check yet

I just hate to see companies bought simply to kill them or their technology, and frankly the oil companies cannot be allowed to do more damage than they already have. Those dirtbags would be happy to strangle the EV market by destroying EA no matter what the cost.

 

[All Hat No Cattle]

VW to sell stake in charging unit Electrify America, report says

VW is working with Citi to find a co-investor that is prepared to inject roughly $1 billion into the division.

Happens all the time when a company wants a quick infusion of cash.

Here in Vegas, MGM Resorts just sold (last week) a couple of their casinos to the Blackstone Real Estate Income Trust.

And then immediately leased the casinos back. Netted MGM a couple of billion $ cash.

 

[Billyk24]

Happens all the time when a company wants a quick infusion of cash.

Here in Vegas, MGM Resorts just sold (last week) a couple of their casinos to the Blackstone Real Estate Income Trust.

And then immediately leased the casinos back. Netted MGM a couple of billion $ cash.

As stated above, no one should immediate assume a deal is soon to be announced. We don't know the revenue created by customers or user agreements with the various EV companies or other. I assume at this time it is revenue negative. What does the future hold? What assistance will the government provide in the future or will the big brother screw things up as they have many times in the past? Will have to wait to find out.

 

[silverelan]

If it's anything like Ionity, we'll see other OEMs like Ford, Hyundai/Kia, BMW and Mercedes jump in as stakeholders.

 

[dbsb3233]

Shell owns Greenlots, so probably not them. My guess is Ford goes in on it like they did with Ionity in Europe with Volkswagen and extend their VW EV partnership... As well as get a leg up on Tesla by owning a charging network in the US.

I hope not. The more independent they are to avoid temptation to show favoritism (or be propriatary) to any automaker over others is not a good thing, IMO. That's one of my concerns with VW. They could start being tempted to favor their own EVs over others with pricing, throttling, etc.

The less conflict of interest the better when all CCS manufacturers/drivers are so dependent on them.

 

[OlyPen]

I hope not. The more independent they are to avoid temptation to show favoritism (or be propriatary) to any automaker over others is not a good thing, IMO. That's one of my concerns with VW. They could start being tempted to favor their own EVs over others with pricing, throttling, etc.

The less conflict of interest the better when all CCS manufacturers/drivers are so dependent on them.

There's no independence with EA. Remember it was created as a forced part of the Dieselgate settlement with the US government under the Obama administration to build out a public EV charging infrastructure. And now with states also suing VW (the supreme court cleared the way), I imagine anything that happens with EA will undergo extensive government scrutiny.

 

[dbsb3233]

There's no independence with EA. Remember it was created as a forced part of the Dieselgate settlement with the US government under the Obama administration to build out a public EV charging infrastructure. And now with states also suing VW (the supreme court cleared the way), I imagine anything that happens with EA will undergo extensive government scrutiny.

That's what I said. It's already a concern with VW. Be better to see EA be distanced from any specific automakers, not get deeper in bed with them.

 

[Kamuelaflyer]

just hope it isn't Shell - or god forbid ExxonMobil - because those pirates will surely do all they can to kill EV charging.

Shell owns Greenlots, so probably not them

Yeah Shell has done such a stellar job with Greenlots, it’s almost a match made in Hell. How to destroy DCFC in Hawaii? Make them all Greenlots.

In fact, that’s such a bad idea, it’s probably a slam dunk.

Are they divesting? Or are they looking to add a partner/investor to expand the EA network? I'm thinking they want to add a partner which of course would mean they would have to sell that partner some shares

I read it as selling part of their stake in EA. Not exactly divesting (entirely).

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