With Hyundai-Kia, Ionity has a new partner. The Korean carmaker has just become a strategic partner and shareholder in the European high-power charging network founded by BMW, Ford, Daimler and Volkswagen.
Although papers are signed and hands shaken, the investment still has to be approved by the relevant merger control authorities. Ionity currently operates a European network with around 140 HPC (high-power-charging) stations in 14 countries – a further 50 charging parks are in the construction phase. All Ionity charging points source 100% renewable energy.
With Hyundai’s entry into Ionity, the South Korean company has announced the new e-models will be equipped with 800-volt technology from 2021, allowing them to take full advantage of Ionity’s HPC parks. Michael Hajesch, CEO of Ionity said that “The participation of new investors in Ionity is a clear signal of trust indicating that the work of our young company is already bearing fruit.”
For Hyundai, the decision to join this network offers significant benefits for Hyundai and Kia’s European customers. Ionity’s 350kW HPC network allows compatible vehicles a driving range of 100 kilometres or longer with a 3-minute charge. Access to the 350 kW network would allow Hyundai Motor’s Kona Electric to greatly reduce charging times.
According to Hyundai, the participation in the joint venture confirms the Group’s commitment to the future of electric mobility. “I am confident that our work with Ionity will open a new era of High-Power charging experiences, where charging will be seamless and easier than refuelling for our customers,” said Thomas Schemera, Executive Vice President and Head of Product Development at Hyundai Motor Group.
Neither side provided any information on the amount of the investment. If the antitrust authorities agree to the deal, the South Koreans would be the fifth carmaker to hold 20 per cent of Ionity’s shares. Ionity now wants to “further accelerate” the expansion of the high-energy charging network along the most important motorways.