BlackRock Real Assets has increased its exposure in the electric vehicle (EV) charging infrastructure sector via an investment in a European company Ionity.
The manager, investing on behalf of its global renewable power strategy, has participated in a €700m fundraise alongside Ionity’s founding shareholders to help Ionity expand its network across Europe.
The investment will enable Ionity to increase the number of high-power charging points – by more than four times – to 7,000 by 2025.
The shareholders include automotive manufacturers BMW Group, Ford Motor Company, Hyundai Motor Group with KIA, Mercedes-Benz and Volkswagen Group with Audi and Porsche. BlackRock is the first company from outside the automotive sector to be a shareholder in Ionity, which was founded in 2017.
David Giordano, the global head of renewable power at BlackRock, said Electric vehicle charging infrastructure is vital to achieve a net zero future.
”Ionity is one of Europe’s leading EV charging networks, bringing together auto industry pioneers to create a seamless experience for emission-free driving across Europe.”
Michael Hajesch, the CEO of Ionity, said the entry of BlackRock as a shareholder and the ”commitment of our current shareholders underline Ionitys’s attractiveness for investors and confirm the strength of our strategy”.
”The trust and investment of all shareholders will accelerate Ionity’s growth, the expansion of our high-power charging network across Europe and more broadly, the decarbonization of the mobility sector.”
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