IONITY announces €700 million investment to enable rapid EV charging network expansion

24 November 2021, 08:42:06

IONITY announces €700 million investment to enable rapid EV charging network expansionIONITY, Europe's leading high-power charging network - open to drivers of all electric vehicle brands - today announces a combined €700 million investment from its current shareholders and new partner the BlackRock Global Renewable Power platform.

It will enable IONITY to increase the number of high-power 350kW charging points to 7,000 by 2025 – all delivering 100% renewable energy for both emission-free and carbon neutral driving. The new charging points will be situated on motorways, near major cities and along busy trunk roads. Future locations will be built with a higher average of six to twelve charging points. Furthermore, existing sites with high charging demand will be upgraded with additional charging points. These measures will enhance the customers' charging experience and make sure that the IONITY network is prepared for the increasing demand for EV charging.

IONITY was founded in 2017 to play a significant role in shaping the future of mobility. The company now operates more than 1,500 charging points along European motorways in 24 countries.

IONITY is a joint venture between the automobile manufacturers the BMW Group, the Ford Motor Company, the Hyundai Motor Group, Mercedes Benz AG, and the Volkswagen Group with its brands Audi and Porsche. For the first time, IONITY shareholders include a company from outside the automotive sector, the financial investor BlackRock. BlackRock, headquartered in New York, operates globally and, through its Global Renewable Power platform, invests specifically in sustainable industries and companies with the highest possible growth potential. IONITY builds and operates an HPC network along European freeways with state-of-the-art technology and a charging capacity of up to 350 kW. This allows EV drivers to benefit from maximum charging speeds during their stopovers. As a sign of the company’s commitment to sustainability, customers charge their vehicles at all IONITY charging stations using completely renewable energy, making emission-free and carbon-neutral driving possible.

As part of the network expansion, IONITY plans to increasingly acquire its own properties and depending on the location, build and operate its own service stations. Furthermore, the company will take customer experience to a new level with its ‘Oasis’ concept.

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