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Biden Elevates Ford, GM, And Now Siemens — But Not Tesla — In Big EV Push

Biden Elevates Ford, GM, And Now Siemens — But Not Tesla — In Big EV Push

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When Vice President Joe Biden wanted to speak about installing electric car chargers as part of his “Made in America” effort last week, he went to the United States division of a German technological company headquartered in Germany.

In a joint appearance with President Barack Obama on Friday, Siemens USA CEO Barbara Humpton announced $54 million in new investments, including a new plant that will serve as a centerpiece of the company’s efforts to produce more than a million electric vehicle chargers in the United States over the next four years, according to the company.

Siemens (SIE.TI) joins other major U.S. corporations such as Ford (F) and General Motors (GM) as Biden’s chosen corporate faces to assist the administration in meeting its ambitious electric vehicle targets. To achieve this goal, the government hopes to have half of all new vehicles produced in the United States be electric by 2030 and a network of 500,000 public charging stations up and operational by that time. Tesla (TSLA) and its CEO, Elon Musk, are essentially on the outside looking in – at least in terms of the DC party.

After being questioned explicitly about Musk during a Yahoo Finance Live interview on Friday, Humpton told the audience that “we are working with everyone.” “We have a one-to-one connection with the automobile makers.”

She said that Siemens collaborates with automakers on a wide range of projects, ranging from supplying circuitry for electric vehicles to installing charging stations once the cars are on the road. Siemens and Ford recently established a direct agreement to work on the Ford Charge Station Pro home chargers, which are now in production.

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