IONITY
IONITY is a joint venture of major automakers headquartered in Munich, Germany, that operates a high-power charging network for battery electric vehicles across 24 European countries. Established in 2017 by the BMW Group, Ford Motor Company, Mercedes-Benz AG, and Volkswagen Group (including Audi and Porsche), it later incorporated Hyundai Motor Group and Kia, alongside investment from Global Infrastructure Partners, a BlackRock affiliate.[1][2] The network delivers ultra-fast charging up to 400 kW at stations equipped with multiple CCS-compatible points, powered exclusively by 100% renewable energy to enable carbon-neutral long-distance travel along key highways.[1] As of mid-2025, IONITY maintains over 700 charging stations with more than 5,000 high-power points, focusing on reliability and accessibility for all EV brands.[2] In a landmark development, the company secured up to €600 million in green financing in May 2025—the largest such loan in the European EV charging sector—to double its infrastructure, targeting approximately 13,000 charging points and 1,300 locations by 2030, including megawatt-capable systems for future-proofing.[2]Background and Formation
Founding and Objectives
IONITY was founded in 2017 as a joint venture by BMW Group, Daimler AG (now Mercedes-Benz Group), Ford Motor Company, and Volkswagen Group (including its brands Audi and Porsche).[3][4] The legal entities IONITY Holding GmbH & Co. KG and IONITY Management GmbH were established on June 22, 2017, in Munich, Germany.[5] The founding partners committed an initial investment of €300 million, with equal shares among them.[3][4] The primary objective of IONITY is to develop and operate a pan-European high-power charging (HPC) network for battery electric vehicles, focused on enabling reliable long-distance travel.[3][4] Stations are strategically placed along major highway corridors connecting key cities, aiming to reduce charging times to levels comparable with conventional refueling, thereby addressing range anxiety and accelerating electric vehicle adoption.[3] Initial plans targeted up to 400 charging locations with multiple ultra-fast chargers (up to 350 kW) by 2020 across 13 European corridors, utilizing the Combined Charging System (CCS) standard and renewable energy sources.[4] The network emphasizes seamless digital payment and interoperability to support mass-market EV usage.[3]Initial Investments and Agreements
IONITY was formed as a joint venture on November 3, 2017, by the BMW Group, Daimler AG, Ford Motor Company, and the Volkswagen Group (including Audi and Porsche), with each founding partner holding equal shares.[6][3] The agreement established IONITY in Munich, Germany, with the objective of creating an open, pan-European high-power charging (HPC) network compatible with the Combined Charging System (CCS) standard, enabling charging speeds up to 350 kW to facilitate long-distance electric vehicle travel.[6][4] Under the initial commitments, the partners planned to deploy approximately 400 HPC stations across Europe by 2020, prioritizing major highways and corridors with stations spaced roughly 120 km apart.[3][6] Construction began promptly, with the first 20 stations targeted for 2017 in Germany, Norway, and Austria.[3] Site acquisition agreements were secured early with key forecourt operators, including Tank & Rast, Circle K, and OMV, to host the initial stations.[3] By late November 2017, IONITY expanded these partnerships to cover 18 European countries, adding operators such as Shell to ensure broad coverage along high-traffic routes.[7] These deals collectively secured access to sites representing over half of Europe's major fuel station networks, supporting the network's rapid rollout.[7]Ownership and Governance
Current Members
IONITY's current shareholders consist of major automakers BMW Group, Ford Motor Company, Hyundai Motor Group (including Hyundai and Kia), Mercedes-Benz Group, and Volkswagen Group (encompassing brands such as Audi and Porsche), alongside Global Infrastructure Partners (GIP), a BlackRock entity that invested in 2021.[2][8] These entities formed the core of the joint venture established in 2017, with Hyundai Motor Group joining in November 2020 to expand participation.[9] The automotive shareholders provide strategic oversight and funding, leveraging their expertise in electric vehicle technology and market demands to guide network development. GIP's involvement, through a €700 million equity round in late 2021, introduced institutional investment focused on scaling infrastructure, including plans for up to 7,000 charging points by 2025.[10] No public changes to this ownership structure have occurred as of May 2025, maintaining a collaborative governance model where decisions prioritize high-power charging standardization across Europe.[11]- BMW Group: Founding member, contributing to initial capital and technical standards for 350 kW charging.[2]
- Ford Motor Company: Founding member, emphasizing interoperability for its European EV lineup.[2]
- Hyundai Motor Group: Joined in 2020, integrating Hyundai and Kia models with IONITY's CCS protocol.[9]
- Mercedes-Benz Group: Founding member (as Daimler), focused on luxury EV integration and grid stability.[2]
- Volkswagen Group: Founding member, with Porsche representing its brands in shareholder activities for unified strategy.[8]
- Global Infrastructure Partners (BlackRock): Non-automotive investor since 2021, supporting financial expansion without operational control dilution.[12]