IONITY, Investing €700 Million to Expand Its Network in Europe to 7,000 Chargers by 2025

Electric vehicle charging operator IONITY plans to build a network of high-power chargers along highways in 24 European countries with the aim of installing IONITY-branded stations every 150-200 kilometers (60 to 124 miles). This will allow electric car drivers in Europe to travel wherever a petrol or diesel-powered vehicle can be driven without worrying about finding a convenient charging or discharging. As part of this plan, IONITY plans to expand its network to include 1,000 charging points by 2025. That's more than the 400 points he currently uses. Existing IONITY charging stations have an average of four charging points per place. But future chargers will have 8 to 12 points, which will help reduce customer waiting times, the company said. The total investment in the expansion project is EUR 7 million (USD 783.6 million). The funds will come from stakeholders IONITY and the BlackRock Global Renewable Power platform.