Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. Siemens AG
  6. News
  7. Summary
    SIE   DE0007236101


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Siemens : to introduce sustainable and flexible company car policy

06/17/2021 | 04:04am EDT


Munich, June 17, 2021

Siemens to introduce sustainable and flexible company car policy

  • Focus on ecofriendly vehicles to help make company carbon neutral by 2030
  • New app enables executives to switch company cars flexibly anytime based on their specific requirements
  • Under the EV100 initiative, Siemens wants to have a fully electric fleet by 2030

In January 2022, Siemens will introduce a new model for the company cars used by its executive-level employees. Currently in the pilot phase, the new model is to be implemented Germany-wide by the beginning of next year. The goal is to provide employees with greater access to cars with ecofriendly drive systems and thus give them an additional incentive to use electric vehicles. Siemens' fleet organization will also be more flexible and sustainable since employees will be able choose the type of electric vehicle they want at any time based on their requirements. This spring, the company joined the Climate Group's EV100 initiative and thus set a target of transitioning its global fleet to 100 percent electric mobility by 2030.

"When it comes to achieving a climate-neutral future, additional innovative solutions for alternative fleet concepts are one of the primary success factors. Our new fleet management model and app perfectly fit our strategy of achieving a decisive boost in the use of electric and hybrid vehicles and of completing the transition by 2030," said Thorsten Eicke, head of global mobility management at Siemens.

Siemens wants its own business operations to be carbon neutral by 2030. The new fleet management model is expected to make a major contribution to achieving this goal. Therefore, the company is systematically focusing on electric vehicles. Its fleet of company cars for executive-level employees currently comprises about

Siemens AG

Werner-von-Siemens-Strasse 1


80333 Munich

Head: Judith Wiese


Reference number: HQCOPR202106166233EN

Page 1/3

Siemens AG

Press release

1,500 vehicles. Electric and hybrid vehicles already account for about 50 percent of this total. And the company intends to substantially increase this very high percentage yet further by installing more charging stations at Siemens locations and reducing the relatively long lock-in period for leasing contracts.

The company's locations in Germany, for example, already boast around 450 charging stations. Another 260 are planned for the summer of 2022. With the Siemens Smart Infrastructure charging card, employees can access more than 40,000 charging stations in Germany's public charging network. For its charging infrastructure, Siemens relies on its own technology and on infrastructure solutions from Smart Infrastructure Distribution Systems. Wherever possible, the company will also purchase electricity from renewable sources so that vehicle charging will further support its carbon neutrality goal.

In addition, Siemens' new fleet management model will provide greater flexibility. Under the model, the duration of leasing contracts will be reduced to just one year, and employees will be able to switch vehicles anytime. The cost of leasing contracts will vary based on the CO2 emissions of the vehicles selected. What's more, users of the new model will receive incentives in the form of higher lump-sum transportation allowances. The model also offers the option of dispensing with company cars entirely. No leasing fees will be charged during periods of non-use.

Greater flexibility is required because the basic conditions - and thus the requirements for company cars - have changed fundamentally in recent years due, in particular, to new digital capabilities. This change has been further accelerated by the coronavirus pandemic. Instead of on-site appointments with customers, greater emphasis is now placed on virtual communications, thereby reducing the number and length of car trips.

With its new model, Siemens is collaborating with Sixt and using a digital process. With the aid of an app, employees will be able to switch cars on their own with a few clicks and then pick up their vehicles at the scheduled time at a Sixt location chosen in advance. The entire process requires no person-to-person contact.

Reference number: HQCOPR202106166233EN

Page 2/3

Siemens AG

Press release

Siemens' new fleet management model will be introduced first in Germany. Additional European countries are scheduled to follow. In addition to company cars for executive-level employees, Siemens maintains a fleet of 45,000 vehicles for service personnel and other frequent company drivers.

This press release is available at https://sie.ag/3q180SS

Follow us own Twitter: www.twitter.com/siemens_press

Contact for journalists

Wolfram Trost

Phone: +49 174 1551859

E-mail: wolfram.trost@siemens.com

Siemens AG (Berlin and Munich) is a technology company focused on industry, infrastructure, transport, and healthcare. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation as well as advanced healthcare, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, to transform the everyday for billions of people. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a globally leading medical technology provider shaping the future of healthcare. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power.

In fiscal 2020, which ended on September 30, 2020, the Siemens Group generated revenue of €55.3 billion and net income of €4.2 billion. As of September 30, 2020, the company had around 293,000 employees worldwide. Further information is available on the Internet at www.siemens.com.

Reference number: HQCOPR202106166233EN

Page 3/3


Siemens AG published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 08:03:05 UTC.

ę Publicnow 2021
All news about SIEMENS AG
03:32aSIEMENS HEALTHINEERS : JP Morgan reiterates its Buy rating
07/26SIEMENS GAMESA RENEWABLE ENERGY S A : SSE To Jointly Develop Green Hydrogen In W..
07/26SIEMENS GAMESA : UBS gives a Neutral rating
07/26DGAP-CMS : Siemens Healthineers AG: Release of a capital market information
07/26SIEMENS GAMESA RENEWABLE ENERGY S A : SSE, Siemens Gamesa to seek green hydrogen..
07/26DGAP-CMS : Siemens Aktiengesellschaft: Release of a capital market information
07/23SIEMENS : U.S. business borrowing for equipment rises 17% in June - ELFA
07/23Siemens new natural extinguishing agents protect business continuity in criti..
07/22MARKET CHATTER : Swiss Life to Bid for German Biotech-Focused Industrial Park
07/22SIEMENS : Mobility to equip the low-emission high-performance maintenance fleet ..
More news
Sales 2021 60 242 M 70 980 M 70 980 M
Net income 2021 5 550 M 6 540 M 6 540 M
Net Debt 2021 32 953 M 38 826 M 38 826 M
P/E ratio 2021 19,7x
Yield 2021 2,64%
Capitalization 107 B 127 B 127 B
EV / Sales 2021 2,33x
EV / Sales 2022 2,17x
Nbr of Employees 293 000
Free-Float 88,0%
Duration : Period :
Siemens AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SIEMENS AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 24
Last Close Price 134,42 €
Average target price 160,43 €
Spread / Average Target 19,3%
EPS Revisions
Managers and Directors
Roland Emil Busch President & Chief Executive Officer
Ralf Peter Thomas Chief Financial Officer
Jim Hagemann Snabe Chairman-Supervisory Board
Hanna Hennig Chief Information Officer
Andreas Christian Hoffmann General Counsel, Head-Legal & Compliance
Sector and Competitors
1st jan.Capi. (M$)
SIEMENS AG14.38%126 856
3M COMPANY15.38%116 903