IONITY has announced a €700m investment from its current shareholders and new partner, the BlackRock Global Renewable Power platform, to accelerate EV charging across Europe.
The EV charging infrastructure provider, headquartered in Munich, plans to increase the number of high-power 350kW charging points by more than four times to 7,000 by 2025.
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 12 charging points, IONITY said, in addition to upgrading existing sites along routes with high charging demand.
IONITY is a joint venture of BMW Group, Ford Motor Company, Hyundai Motor Group with KIA, Mercedes-Benz AG and Volkswagen Group with Audi and Porsche. It now operates over 1,500 charging points across European motorways in 24 countries.
BlackRock is the first company from outside the automotive sector to be a shareholder in this joint venture through its Global Renewable Power Platform, which has invested directly in over 300 projects globally including EV infrastructure, wind and solar projects.
As part of the expansion, IONITY plans to increasingly acquire its own properties and depending on the location, build and operate its own service stations. The company’s ‘Oasis’ charging stations concept aims to ‘take customer experience to a new level’.
“Our Oasis concept shows what the charging experience of the future will look like,” said Dr Marcus Groll, COO at IONITY. “Whether it is covered charging stations or charging parks alongside cafés, restaurants and shops, we want to offer our customers a more convenient and comfortable charging experience in the future.”