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

    Ionity, an electric vehicle fast-charging and charging network provider owned by Daimler AG and Volkswagen Group, has received a € 700 million ($ 738 million) investment from BlackRock Global and its existing shareholders across Europe. Enlarged its footprint.

    Founded in 2017, the company has installed ultra-fast EV charging stations. It was established as a joint venture of a coalition of major automobile manufacturers such as Hyundai Motor Group, Ford and BMW. With this investment, Ionity will be able to increase the number of charging points to 7,000 by 2025. This is more than four times the 1,500 currently installed.

    New charging stations will be located near highways and other major roads, as well as major cities. In a statement, Ionity states that there will be 6-12 charging points at each location. The company also plans to add charging points to existing high-demand sites.

    Ionity’s planned expansion includes the ownership and operation of a full service station for the driver to “charge” while the vehicle is charging. These stations, called “oasis”, are similar to today’s roadside rest areas.

    BlackRock is the first non-automotive company to invest in Ionity through a global renewable energy equity investment vehicle. The investment manager raised $ 4.8 billion for the fund in April. This shows that institutional investors are becoming more and more interested in decarbonization technology.

    That investment also demonstrates increased certainty among strong investment players in the next electric revolution in transportation. So far, BlackRock has invested primarily in onshore and offshore wind and solar projects, so interest in EV charging is noteworthy.

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

    The post Ionity lands €700 million investment from BlackRock, automakers to expand EV fast-charging network – TechCrunch appeared first on California News Times.

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