Blackrock joins charging network operators from Audi, BMW and Daimler

FRANKFURT (Dow Jones) – The asset manager Blackrock has invested in the charging network operator Ionity. Together with the previous owners, the US investor has invested 700 million euros in the company, according to the announcement. BMW, Mercedes-Benz, Audi, Porsche as well as Ford and Hyundai are involved in the joint venture founded in 2017. How much each company has invested was not disclosed.

Ionity plans to more than quadruple the number of 350kW charging stations to around 7,000 by 2025. Charging stations are to be set up not only on motorways, but also in the vicinity of large cities and along busy highways. Ionity wants to acquire more of its own land and also build its own rest stops for its station concept.

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(END) Dow Jones Newswires

November 24, 2021 02:31 ET (07:31 GMT)

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