What does the charging station company Ionity do?
What does Ionity do?
Ionity’s goal was to have 400 so-called charging parks in operation by the end of last year. Ionity is an emerging electric company in Germany. However, the joint venture founded by BMW, Ford, Daimler and Volkswagen to set up fast-charging stations quickly identified some obstacles. To date, only 336 charging stations are actively operating. It is still unclear what will happen after the initial construction phase. With electric car sales on the rise, Ionity is looking at continuing to significantly expand its charging network. The manufacturers behind the joint venture, which was founded in 2017, would also already consider further funding for the company. The aim is to avoid long queues at charging stations by increasing the number of available electric charging stations. This has the background of not further deterring potential buyers of electric vehicles. Ionity shareholders also reported a growth strategy that includes a high-performance charging infrastructure across Europe. “Additional investment opportunities are being discussed,” the report continues in an interview with Ionity CEO Michael Hajesch.
Hyundai as a partner
Hyundai Motor Group, which owns the Hyundai and Kia brands, has been a partner in Ionity since 2020. To date, each partner is said to have contributed around €200 million to the company. Further funding is primarily intended to enable the installation of new fast-charging stations in cities and on less-traveled trunk roads. Ionity has so far focused primarily on congested highways and has only installed its own charging stations in selected cities.
Legal requirements
Electric car sales are on the rise in most European countries, but a more extensive charging infrastructure is imperative to gain acceptance in the general market. The delayed development of charging infrastructure in the EU is jeopardizing the profitability of electric cars, affirms BMW CEO Oliver Zipse, who is also head of the European manufacturers’ association ACEA. He believes that politicians should act quickly and set their member states binding targets for the expansion of charging infrastructure.
Ionity as a premium provider
With the project, or rather the company Ionity, the participating manufacturers are pursuing a premium approach; the kilowatt hour (kWh) has already cost 79 cents since 2020. Other providers within the EU are significantly cheaper, but Ionity wants to hold on to its current price – allegedly for financial reasons, but probably also to lure customers with special offers in the future. In addition, there is a lot going on in the market. It has been rumored for months that Audi and Porsche are planning their own charging network with additional premium services for their customers, which could be a competitor for Ionity in the near future. Not all Ionity participants think this is a good idea. Many believe that more closed charging networks, like those used by e-car pioneer Tesla, are unnecessary and make the market unnecessarily expensive. Polestar, Volvo’s electric car sub-brand, recently came out clearly against its own or private charging stations.
Company portrait Ionity
The joint venture company Ionity, operates an international charging network for electric vehicles along European highways. In 2017, a group of car manufacturers from Germany founded Ionity with the aim of integrating electric mobility for long-distance vehicles into their future product lines. The first expansion stage of 400 spaces for the high-power charging network, where numerous vehicles can be charged at charging stations with up to 350 kW of charging power, was actually supposed to be completed by the end of 2020. Currently, the expansion stands at about 80%.
History
In 2016, the main German manufacturers, together with the Ford company, announced their intention to develop a European network for charging electric vehicles. The average distance between charging stations on defined routes should never exceed 120 kilometers. The European Commission approved the establishment of a joint venture company in April 2017. The BMW Group, Daimler AG, Ford Motor Company and Volkswagen Group were involved in the establishment. Later, the entire Hyundai Motor Group joined the venture. Shell and Renault also submitted bids totaling half a billion euros as part of their search for new partners.
Where does the name Ionity come from?
The company’s name was unveiled in November 2017. The name is made up of the terms Unity and Ion. The stated goal is to build and operate a network of high-capacity fast-charging stations for electric vehicles along major European transport corridors. Ionity’s headquarters are located in Munich. In addition, a subsidiary with offices in Oslo has been established. Ionity firmly believes in the implementation of electromobility. And even more directly in electromobility without restrictions. Ionity wants everyone to be able to travel with an electric vehicle. Just as naturally as is possible today with a gasoline-powered car. Range or charging stations should no longer be an issue. According to Ionity, the freedom of driving must also be guaranteed for electric vehicles throughout the EU.
Source: Ionity
Photo by CHUTTERSNAP on Unsplash