EVWire brief: IONITY secured financing of up to €600 million, including €450 million in committed green loan facilities and an option to increase the credit line by up to €150 million later for future growth. This loan transaction, provided by nine international commercial banks, is the largest such financing in the European EV charging industry to date and supports the plan to more than double its existing network of over 5,000 charging points across more than 700 locations.
Context:
IONITY currently operates 5062 charging points in 753 locations (68 being built) and aims to more than double the number of charging points to ~13,000 and grow its network to more than 1,300 charging sites by the end of 2030.
current look at the IONITY sites across Europe, explore here
It is also the only European network supporting 800V vehicle architectures at every charging point, mostly providing up to 400kW per charger (and now also up to 600kW after adopting the Alpitronic HYC1000 systems). The company has partnerships with large hospitality and retail brands like Starbucks, Circle K, L’Osteria, and Village Hotels.
Quotes:
“ IONITY was founded with a clear mission: Develop the charging infrastructure to accelerate e-mobility across Europe. Today, we take a major leap forward. We’ve secured the largest loan transaction in the European EV charging industry to date. This funding propels us into our next phase of accelerated growth: Smarter, faster, and even more future-ready. By 2030, we’re set to operate more than 1.300 charging locations and around 13.000 high-power charging points in the region.”
“This financing marks a major milestone – not just for IONITY, but for Europe’s transition to clean, sustainable mobility. From day one, we’ve proactively built a truly European high-power charging network without compromising on speed, reliability, or convenience. Now, we’re scaling faster than ever to build the backbone of tomorrow’s sustainable mobility infrastructure and bring ultra-fast charging to everyday destinations. Our mission is clear: to power seamless electric journeys and create lasting value for the economy, society, and the environment.”
In 2021, IONITY raised the largest equity round in the industry to date with a €700 million round led by Global Infrastructure Partners (GIP), a part of BlackRock, and IONITY’s OEM shareholders.
The banks involved in this syndicate are: ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., KfW IPEX-Bank GMBH, Landesbank Baden-Württemberg, German branch of MUFG Bank (Europe) N.V., Norddeutsche Landesbank Girozentrale and Rabobank.
Founded in 2017, IONITY is a joint venture of BMW Group, Ford, Hyundai, Kia, Mercedes-Benz, Volkswagen Group (including Audi and Porsche), and Global Infrastructure Partners (GIP), a part of BlackRock.
Source: IONITY, Jeroen van Tilburg
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