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 鈧�700m fundraise alongside Ionity鈥檚 founding shareholders to help Ionity expand its network across Europe.
The investment will enable Ionity to increase the number of high-power charging points 鈥� by more than four times 鈥� 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.
鈥滻onity is one of Europe鈥檚 leading EV charging networks, bringing together auto industry pioneers to create a seamless experience for emission-free driving across Europe.鈥�
Michael Hajesch, the CEO of Ionity, said the entry of BlackRock as a shareholder and the 鈥漜ommitment of our current shareholders underline Ionitys鈥檚 attractiveness for investors and confirm the strength of our strategy鈥�.
鈥漈he trust and investment of all shareholders will accelerate Ionity鈥檚 growth, the expansion of our high-power charging network across Europe and more broadly, the decarbonization of the mobility sector.鈥�
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