European charging network IONITY has secured €700 million in new investment from current shareholders and a new investor: the BlackRock Global Renewable Power platform. This investment will enable IONITY to quadruple the number of its high-power 350 kW charging points to 7,000 by 2025.

The new charging points will be situated on motorways, near major cities and along busy trunk roads. Future locations will be built with an average of 6 to 12 charging points. Existing sites with high charging demand will be upgraded with additional charging points.

IONITY was founded in 2017 as a joint venture of BMW, Ford, Hyundai, KIA, Mercedes and the Volkswagen Group. The company now operates more than 1,500 charging points in 24 European countries.

As part of the network expansion, IONITY plans to increasingly acquire its own properties and depending on the location, build and operate its own service stations, including a new concept called Oasis.

“Our Oasis concept shows what the charging experience of the future will look like,” said Dr Marcus Groll, COO at IONITY. “Whether it is covered charging stations or charging parks alongside cafés, restaurants, and shops, we want to offer our customers a more convenient and comfortable charging experience in the future.”

Source: IONITY