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EV fast charging network IONITY invests about 90.5 billion yen to more than quadruple the number of chargers | Today Nation News

TechnologyEV fast charging network IONITY invests about 90.5 billion...

IONITY, a fast-charging network provider for electric vehicles, co-founded by major automobile companies such as Daimler AG and Volkswagen Group, is an asset management company, BlackRock Global. Obtained an investment of 700 million euros (about 90.5 billion yen) from global) and existing shareholders. Aiming to expand business throughout Europe.

IONITY, which has installed ultra-rapid charging stations for EVs in various parts of Europe, was established in 2017 as a joint venture between Daimler and Volkswagen Group, as well as BMW Group (BMW Group) and Ford (Ford). Later, the Hyundai Motor Group also joined. With this investment, the company plans to increase the number of chargers currently installed from about 1,500 to 7,000 by 2025, more than quadrupling.

The newly constructed charging station will be installed near major roads such as highways and major cities, and will be able to charge 6 to 12 EVs at the same time at each location. The company will also add more chargers to existing facilities that are in high demand.

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IONITY also plans to own and operate a full service station that allows drivers to “charge” while the vehicle is charging. The concept of this station, which the company calls “Oasis,” is similar to the rest areas along the road today.

BlackRock has invested in IONITY through its Global Renewable Power equity investment vehicle. This is the first time IONITY has received capital from a non-automotive company. BlackRock raised $ 4.8 billion in April, indicating institutional investors’ growing interest in decarbonization technology.

The investment also shows that leading investors are more confident in the upcoming electrification of transportation. So far, BlackRock has focused on investing in onshore and offshore wind and solar projects. It is worth noting that the company has shown an interest in EV charging.

Image credit: Ionity

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(Sentence: Aria Alamalhodaei, Translation: Hirokazu Kusakabe)

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