Ionity in talks about expanding the charging network

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Cities and less frequented motorways are also to be equipped

Ionity in talks about expanding the charging network-network

Ionity plans to significantly expand its charging network in Europe to keep pace with the increasing number of electric vehicles. Ionity is therefore in talks with its shareholders about a new financing round. This is now reported by Bloomberg.

Ionity is a joint venture founded in 2017, in which the car manufacturers BMW, Ford, Hyundai, Mercedes, VW, Audi and Porsche are involved. Each shareholder has so far invested around 200 million euros in the GmbH. The goal of the first expansion phase, 400 fast charging stations in Europe, was 80 percent complete by the end of 2020. The locations are on the most important motorways. Each location offers between two and ten fast chargers (HPC, High Performance Charger) with up to 350 kW charging power.

After the enormous sales success for electric cars in 2020, manufacturers fear long queues in front of the charging stations. A new round of financing should now enable more charging stations. "Additional investment opportunities are being considered," said Ionity boss Michael Hajesch in an interview. The focus is on cities and less frequented motorways, where Ionity has not yet been represented.

Last year, registrations of plug-in hybrids and electric cars rose by 144 percent compared to the previous year. And VW alone plans to double the deliveries of electric cars again this year – after all, the ID.4 has only just started.

So it is clear that the charging infrastructure needs to be expanded. The point now is who should pay for it. Manufacturers are campaigning for the European Union to set up one million public charging points by 2024. That would be around four times as much compared to the 224,500 charging points that existed in 2020.

More about the charging network and charging: Ionity in talks about expanding the charging network-expanding Audi is planning its own rapid charging network with 200 to 300 stations

Ionity in talks about expanding the charging network-talks Plugsurfing increases charging prices: up to 1.09 euros per kWh

Tesla has solved the problem for its customers with its in-house supercharger network. Audi is also looking into setting up its own charging network, as it recently became known. Cooperations would also be an option. According to its own information, the Munich-based company Qwello is in talks with a large car manufacturer, reports Bloomberg.

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