Ionity, the charging network operator of the car companies for electric cars in Europe, has won a new investor and is getting more money to expand its range. The world’s largest asset manager Blackrock will become shareholders, the company announced on Wednesday. Together with the previous participants – the automobile manufacturers Audi, BMW, Daimler, Ford, Hyundai and Porsche – Blackrock will invest 700 million euros.

How the total is broken down was not known. According to insiders, the US investor contributes the largest part of the sum. The number of fast charging stations is expected to increase from 400 in two dozen European countries to more than 1,000 with around 7,000 charging points by 2025.

Locations on motorways and expressways

Ionity offers fast charging stations with a charging capacity of up to 350 kilowatt hours, exclusively from renewable energy sources. So far, the joint venture founded four years ago has been limited to locations on major motorways and expressways in Europe. In the future, the cross-brand provider also wants to build its pillars on busy connecting roads to major cities. Ionity also wants to acquire areas for its own locations with charging parks under the trademark of the red kite, a bird of prey.

The charging station operator supports the energy transition with its infrastructure and therefore fits in well with the investment focus on renewable energies, explained Blackrock manager David Giordano. “Ionity has really stood out from the rest in terms of the maturity of the business and the wealth of experience of the existing partnerships,” he told Reuters. Blackrock’s entry shows how attractive Ionity and the field of e-mobility in general are for investors, said Ionity boss Michael Hajesch. The company will continue to focus on Europe.

The development of the charging infrastructure is an important prerequisite for the switch to electromobility. With their charging station company, the car companies and Blackrock are making a small contribution based on the need for public charging points. According to an estimate by the European automobile association ACEA, this will amount to six million plugs by 2030 if the changeover to e-cars in the EU reduces the CO2 emissions of new vehicles by half and a corresponding number of e-cars are to be on the road. Currently there are just under 225,000, mainly in Western Europe. Oil companies and energy suppliers also want to earn money with charging stations. Meanwhile, Ionity is not yet making a profit, as Hajesch said. “We still need some time to become profitable, but we are on track.” (apa, reu)

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