Ionity has presented a plan to invest a total of EUR 700 million in expanding its European fast charging network. The company’s current number of fast chargers, some 1,500, is expected to more than quadruple by 2025.
According to Ionity, this investment makes it possible to expand the number of charging points with a charging capacity of 350 kW to 7,000 by 2025. The new charging points will not only be located along highways, but also near major cities and busy provincial roads. Ionity is active in 24 European countries, but gives no further details about where the 5500 additional charging points will appear.
The company will provide future locations with an average higher number of chargers. This involves six to twelve charging points. The number of charging locations along busy roads must have increased from 400 to 1000 by 2025 as a result of this plan. In addition, Ionity will expand existing charging locations where there is a high demand with additional charging points.
This EUR 700 million investment comes from Ionity’s current shareholders and a new partner; Blackrock’s Global Renewable Power platform. Ionity is a joint venture of car manufacturers BMW, Volkswagen, Daimler, Hyundai and Ford. Thus, these automakers will also contribute as shareholders, but it is unknown how much the individual companies and Blackrock contribute to the total investment.