Ionity raises $700m to expand 350kW charging network

Ionity raises $700m to expand 350kW charging network

Business news |
By Nick Flaherty

BlackRock’s Global Renewable Power platform is the first non-OEM to join Iionity’s shareholders, which include the BMW Group, Ford Motor Company, Hyundai Motor Group with KIA, Mercedes-Benz AG and Volkswagen Group with Audi and Porsche

The 7000 350kW high-power chargers will be open to drivers of all electric vehicle brands, and present in 24 countries .

The new charging points will be situated not only on motorways, but also near major cities and along busy trunk roads. Future locations will be built with a higher average of six to twelve charging points. Existing sites along routes with high charging demand will be upgraded with additional charging points.

The company now operates more than 1,500 charging points along European motorways in 24 countries. It is using the funding to buy more properties for its own service stations as ‘oasis’ areas with café’s and ships alongside the chargers.

“The entry of BlackRock as a shareholder and the commitment of our current shareholders underline Ionity’s attractiveness for investors and confirm the strength of our strategy. The trust and investment of all shareholders will accelerate Ionity’s growth, the expansion of our high-power charging network across Europe and more broadly, the decarbonisation of the mobility sector” said Dr Michael Hajesch, CEO of Ionity.

“Electric vehicle charging infrastructure is vital to achieve a net zero future. Ionity is one of Europe’s leading EV charging networks, bringing together auto industry pioneers to create a seamless experience for emission-free driving across Europe. We are delighted to be supporting their growth ambition and providing our clients with access to an innovative company that is powering the clean energy transition.”

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