Ionity lands €700 million investment from BlackRock, automakers to expand EV fast-charging network

DMCA / Correction Notice
- Advertisement -

Ionity, an electric vehicle fast-charging charging network provider whose owners include Daimler AG and Volkswagen Group, has raised a €700 million ($783 million) investment from BlackRock Global and existing shareholders to expand its footprint across Europe. has done.

- Advertisement -

The company, which was established in 2017, installs ultra-high speed EV charging stations. It was launched as a joint venture between a coalition of leading automakers which includes Hyundai Motor Group, Ford and BMW. This investment will allow Ionity to increase the number of charging points to 7,000 by 2025 – more than four times the 1,500 installed today.

The new charging stations will be located along highways and other major roads as well as near major cities. Ionity said in a statement that there will be six to 12 charging points at each location. The firm also plans to add more charging points to existing sites with high demand.


Ionity’s planned expansion includes owning and operating full service stations for drivers to “recharge” their vehicles while they are charging. These stations, a concept he is calling “oasis”, resemble roadside resting places today.

BlackRock is the first non-automotive company to invest in Ionity through its Global Renewable Power equity investment vehicle. The investment management firm raised $4.8 billion for the fund in April, a sign that institutional investors are increasingly interested in decarbonization technologies.

- Advertisement -

Its investment also reflects a growing certainty among powerful investment players in the upcoming electric revolution in transportation. So far, BlackRock has invested mostly in onshore and offshore wind, and solar-powered projects, so its interest in EV charging is noteworthy.

- Advertisement -

Stay on top - Get the daily news in your inbox

Recent Articles

Related Stories