Siemens plans to spin off its electric vehicle charging department in order to seek growth.

Siemens AG will split its electric vehicle charging business into a fully independent department called eMobility to seek new partnerships and drive growth. Matthias Rebellius, head of Siemens' Smart Infrastructure division, said on Monday that the new arrangement will make the Siemens eMobility department more agile and able to "focus on key areas according to business strengths." Rebellius stated in a statement that the move will be beneficial in seeking new partnerships and building a customer base in the electric vehicle charging sector. Siemens has a precedent of splitting business units and either selling or listing them, as the company focuses on core competencies in factory automation and software solutions. In recent years, the company has listed its healthcare business (now Siemens Healthineers) and energy division (now Siemens Energy). The eMobility department's products include electric vehicle charging hardware, software, and services, with production and research and development facilities in Germany, Portugal, the United States, India, and the Netherlands.