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Germany’s IONITY grabs €700M to bring 7000 EV faster chargers to Europe by 2025

IONITY
Image credits: IONITY

Electric vehicles are the future of the mobility industry all over the world in the coming years. However, research hints that consumers are concerned about the lack of proper charging infrastructure to adapt to the electrification trend. Also, nearly 50 to 60 percent of the vehicles on road are likely to be electric by 2030, which increases the demand for EV charging infrastructure and solutions.

A leading high-power charging network IONITY serves all the EV drivers irrespective of the brand of vehicle. The company makes long-distance travel in an electric vehicle possible with its network along Europe’s highways.

Recently, IONITY grabbed a €700 million (nearly $785 million) investment from a new partner – the BlackRock Global Renewable Power platform along with its existing shareholders. This investment is targeted at the growth and network expansion plans of IONITY across Europe and improving the charging experience of customers.

Joint venture to solve the biggest obstacle

IONITY was established in 2017 as a joint venture of Ford Motor Company, BMW Group, Mercedes-Benz AG, Hyundai Motor Group, and Volkswagen Group with Porsche and Audi. The company was formed to build a high-power charging (HPC) network for EVs along major European highways.

While it is headquartered in Munich, Germany, IONITY has an additional office in Oslo, Norway as well. The lack of an easy-to-use, reliable and ubiquitous ultra-fast charging infrastructure outside the metropolitan cities is the biggest obstacle for the widespread adoption of e-mobility. IONITY intends to solve this problem without any compromise irrespective to where people live, and how they travel.

High-power EV charging network

IONITY is involved in building and operating an EV charging network along the highways of Europe. This high-power charging network uses state-of-the-art technology and has a charging capacity of up to 350kW. It lets drivers of EVs (both existing and future models) use the CCS (Combined Charging System), a leading European charging standard to power their vehicles. Eventually, the EVs that are plugged into this system will benefit from superior charging speeds.

Each charging station by IONITY comprises four charging points on average. The company’s chargers are touted to deliver 100 percent renewable energy for both carbon-neutral and emission-free driving.

Expansion plans by 2025

IONITY intends to open 400 to over 1,000 new charging locations in the high traffic areas in Europe. It eyes to increase the number of high-power charging points by over four times taking it to 7,000 by 2025. These new charging points will be opened near major cities, busy trunk roads and highways. The future locations will be built with six to twelve charging. Also, existing charging sites that have high demand will be upgraded with more charging points. With these measures, IONITY will be able to cater to the increasing demand for EV charging.

IONITY’s Oasis concept

Currently, the company operates over 1,500 charging points across European highways in 24 countries. As it focuses on network expansion, IONITY will acquire its own properties and build its own service stations to offer an enhanced customer experience with the Oasis concept.

With this concept, the company will have charging stations alongside restaurants, cafes, and shops, so that customers get a more comfortable and convenient charging experience.

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