IONITY Partners Seek to Increase Capital and Continue Expanding

When the IONITY initiative was presented, its promoters indicated that the objective was to deploy an ultra-fast recharging network throughout Europe to reach 400 stations by 2020. A goal that they have not achieved, partly because of the paralysis caused by the pandemic. But now, the network has continued to grow, and its owners are already moving to begin a new phase of expansion.

There are currently 336 stations in operation and 39 more in the construction or activation phase. A network formed on average by six points with powers of up to 350 kW, capable of recovering the range of cars capable of accessing such powers in a few minutes.

Now IONITY partners, including BMW, Mercedes, Hyundai, Ford, Porsche, and Audi, are currently looking for new travel companions who put between 400 and 500 million euros for 25% of the initiative on the table.

The plans are quite advanced, and they have even hired the BNP Paribas bank to help find a buyer and complete the process, which should have the binding offers after Easter and which will allow the expansion to continue this year.

Now it remains to be seen who the investors will be. If they will be venture capital groups or otherwise, IONITY will attract new brands that want to join one of the networks with the greatest media coverage of the moment.

But some of the partners are not making it easy, such as Volkswagen and Audi, which, while looking for partners for IONITY, are launching parallel initiatives to deploy their own recharging network. In the case of the German group, in the hands of the energy giant BP and its Aral division, which are preparing a “premium” recharging network and which is even rumored to be presented today at the event that Volkswagen will hold on its Power Day.

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