700 million euros for Ionity

By 2025, Ionity wants to operate 7,000 charging stations for electric cars in Europe. Fresh capital is helping with this.

The joint venture Ionity has raised 700 million euros in capital. The capital came from shareholders BMW, Ford, Hyundai, Mercedes-Benz and Volkswagen. It also added BlackRock's Global Renewable Power Platform as a new partner.

"The trust and investment from all shareholders is accelerating Ionity's growth, the expansion of our High Power Charging network across Europe and, last but not least, the decarbonisation of the mobility sector," says CEO Michael Hajesch. By 2025, Ionity aims to quadruple the number of charging stations to around 7,000.

In addition to motorways, there should also be charging stations near major cities and on busy roads. To this end, the Munich-based company wants to buy land and build its own service stations. The start-up wants to build more charging columns at the existing locations.

Ionity is a joint venture of BMW, Ford, Hyundai, Mercedes-Benz and Volkswagen and was founded in 2017. Drivers can charge their electric cars with electricity from renewable sources at more than 1,500 charging stations in 24 countries.

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