Hyundai Motor Group has announced fresh investment into the Ionity electric charging network.
Set to provide high-power charging all around Europe, the South Korean firm has joined BMW Group, Ford, Daimler and Volkswagen Group’s Porsche in investing in Ionity. All have an equal stake in the project.
Including funding from both Hyundai and Kia, the agreement further strengthens the credentials of the charging network, which is set to offer 800V fast charging at 400 stations across 14 European countries.
Almost 140 sites have been completed, all of which are supplied by renewable energy sources.
Thomas Schemera, Hyundai Motor Group executive vice president and head of product division, said: “Our participation in this joint venture reaffirms the Group’s commitment to future electromobility.See Available Hyundai deals
“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.”
Michael Hajesch, Ionity chief executive, added: “Hyundai Motor Group brings significant international experience and know-how with a full strategic commitment to e-mobility. 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.”