Ionity to QUADRUPLE its rapid EV charging network with £590 million investment

Ionity is expanding its rapid charging network for EVs to 7,000 by 2025 with a £590 million investment from shareholders and BlackRock.

The future for EV charging away from home is surely a network of purpose-built rapid charge forecourts. Just like those we already have from Gridserve and Ionity, but in much larger numbers.

That view is shared by Ionity and its shareholders – BMW, Ford, Hyundai, KIA, Mercedes and VW/Audi/Porsche – as they plan the next phase of Ionity Rapid Charge Forecourts, which will see the number of chargers rise from more than 1,500 currently to 7,000 by 2025.

As part of the expansion of the Ionity network, Ionity has partnered with BlackRock Investment – the first non-car business partner –  to procure a total investment of almost £600 million from BlackRock and current shareholders to deliver the plan.

Dr Michael Hajesch, CEO Ionity, said:

The entry of BlackRock as a shareholder and the commitment of our current shareholders underline
IONITY’s attractiveness for investors and confirm the strength of our strategy.

The trust and investment of all shareholders will accelerate IONITY’s growth, the expansion of our high-power charging network across Europe and more broadly, the decarbonisation of the mobility sector.

The expansion of the Ionity network will see Charging Forecourts cropping up not just by motorways, but also near major cities and main roads, with busy existing Charging Forecourts upgraded to match the plan to have 6-12 charge points at each forecourt.

Let’s hope Ionity uses just a small part of the new investment to improve its service and reliability. And prices.