Ionity receives $1bn boost for grand expansion plans

HomeElectricIonity receives $1bn boost...

ionity charging charger

Ionity’s investors – including several major car manufacturers – pump $1 billion of funding into rapid charging.

Electric car charging network Ionity has received a new €700million (AUD$1billion) investment from its backers to accelerate its rapid charging provision across Europe, with 7,000 350kW chargers to be in place by 2025.

The Ionity rollout in Europe has already seen knock-on effects for Australian business too, with Tritum providing some of the specialised 350kW charging units.

The money from Ionity’s shareholders – which include BMW, Ford, Hyundai, Kia, Mercedes and the Volkswagen Group – will go towards expanding the firm’s network to four times its current size.

The network currently covers 24 European countries, where EV take-up is much more advanced than in Australia. Each new site will have an average of six to 12 charge points, while existing sites will be upgraded with more units.

Renewable power firm BlackRock has also become the first company that isn’t a car manufacturer to join Ionity’s list of investors, which the network’s CEO Dr Michael Hajesch says confirms the strength of the company’s strategy.

The charging network has also unveiled a new concept, dubbed Oasis, for a new type of charging forecourt. Dr Marcus Groll, chief operating officer at Ionity, said: “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.”

Tristan Shale-Hester

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