Ionity is quadrupling its ultra-fast EV charging network in Europe on the back of latest investment from new and existing shareholders.

Ionity will use the fresh €700m investment to quadruple the number of high-power 350kW charging points in its network by 2025

It’s raised a further €700m (£588m), which will be used to increase the number of high-power 350kW charging points from the current total of 1,500 to 7,000 by 2025. At the same time, the total number of Ionity charging stations will go up from around 400 to more than 1,000 locations.

The new chargers will not only be placed at more strategically key locations along the European motorway network, they will also be installed along busy trunk roads and near major cities. Future locations will be built with an average of six to 12 charging points, up from the current level.

Furthermore, existing sites along routes with high charging demand will be upgraded with additional charging points.

The measures will significantly shorten overall charging and waiting times for customers at the busiest of locations, improving the customer experience.

As part of the network expansion, Ionity also plans to increasingly acquire its own properties and, depending on the location, build and operate its own service stations.

The company recently revealed its new ‘Oasis’ EV charging station concept, designed to bring about a better charging experience in the future. The model featured charging stations that are covered from the weather elements and charging parks located alongside cafés, restaurants, and shops for added convenience and a better charging experience.

The growth plans come on the back of the new investment, which sees the BlackRock multinational investment management corporation become a new partner through its Global Renewable Power platform. It’s the first non-OEM shareholder in the Ionity joint venture, which already includes BMW Group, Ford Motor Company, Hyundai Motor Group with Kia, Mercedes-Benz AG and Volkswagen Group with Audi and Porsche.

“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,” commented Dr Michael Hajesch, CEO of Ionity.

Markus Duesmann, Audi CEO, said the success of e-mobility heavily depends on an extensive charging infrastructure.

“More than ever before, it isn’t just the product that matters, but the entire ecosystem. With its focus on advancing and improving the charging network offering, Ionity’s massive expansion will play a key role in making electric vehicles more attractive.”