Ionity raises $1.1bn to expand EV fast-charging network

Ionity – the European electric vehicle (EV) fast-charging network backed by many of the world’s biggest car makers – has raised  €700 million ($A1.1 billion) so it can more than quadruple the number of charging points to 7,000 by 2025.

The Ionity network, which already boasts 400 350kW fast-charging stations supporting around 1,5000 charging points, says the new money came from existing shareholders – including BMW, Ford, Hyundai, Mercedes-Benz AG, and Volkswagen – and a new partner, the US investment firm BlackRock’

Ionity will deploy their new charging stations along motorways, near major cities, and along busy trunk roads, and each installation will have a higher average of six to twelve charging points. Ionity will also upgrade existing charging stations along routes with high charging demand with additional charge points.

Blackrock’s entry as investor comes after a similar backing with Australian charging entity Jolt.

“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,” said Dr Michael Hajesch, CEO of Ionity.

Ionity will also look to begin deploying its new “Oasis” charging station concept which will improve the charging experience with covered charging stations located alongside cafés, restaurants, and shops for added convenience and a better charging experience.

“Electric vehicle charging infrastructure is vital to achieve a net-zero future,” said David Giordano, global head of renewable power at BlackRock.

“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.”