Siemens AG will set up its electric car and truck charging business as a fully independent unit to pursue new partnerships and boost growth.

Siemens said it would separate its electric vehicle charging unit to create an independent business that is more agile and better positioned to capitalize on opportunities in the fast-growing market.The business,

The two companies are partnering to build hundreds of new charging stations that will look similar to gas stations.

By Marleen Kaesebier and Miranda Murray BERLIN (Reuters) -Siemens plans to carve out its electric vehicle (EV) charging business, Siemens eMobility, as it looks to grow in the rapidly evolving industry,

Siemens (OTCPK:SIEGY) said Monday it will separate its electric vehicle charging unit to create an independent business, as it aims to place its electric mobility unit on track to become more agile with more freedom to "define its focus areas based on business strengths.