When one of the world’s largest investment companies announces a multi-million euro investment in an automotive company, you know that it has a bright future and that appears to be the case with Ionity a company that supplies high powered vehicle charging stations. 

Finance company BlackRock, is making a cash injection, thought to be in excess of €500 million in Ionity to help speed up the pace of installations of high-power charging stations. It joins manufacturers such as the Volkswagen Group, Daimler, BMW, Ford, Hyundai and Kia, who have also participated in the latest funding round which has raise almost three quarters of a billion euro in new investment.  

Ionity specialises in high-powered 350 kilowatt charging points which can charge suitable vehicles in just 18 minutes. It is looking to quadruple it number of charging points by 2025. The company was founded in 2017 and currently has some 1500 charging points across 24 countries, including a small number in Ireland, at motorway service stations.