Renault and Shell are interested in IONITY equity-report


Companies such as French car manufacturer Renault and oil and gas giant Shell are interested in acquiring shares in the electric vehicle charging group IONITY. European Automotive News report.

In March, IONITY stated that it is studying ways to expand its fast charger network in Europe and added that more shareholders are welcome to join. The final bid for the 20% to 25% stake will expire in July and is worth between 400 million and 500 million euros (1.97 billion to 2.47 billion ringgits). European Automotive News.

According to reports, Shell and IONITY signed an agreement to build fast charging stations for electric vehicles in 10 European countries; Shell also owns NewMotion, which is one of the largest electric vehicle charging suppliers in Europe.

Founded in 2017, Electric vehicle charging network joint venture Started with BMW Group, Daimler AG, Ford Motor Company, Volkswagen Group and Porsche AG, and subsequently Kia and Hyundai joined in September 2019. According to reports, IONITY currently has 348 charging stations in operation in Europe and another 45 charging stations are under construction European Automotive News.

For Hyundai Motor Group, its part in the IONITY joint venture aims to provide the widest possible compatibility for its electric vehicles and other brands of electric vehicles throughout Europe.Hyundai and Kia’s EV models-for example Kia EV6 – It will be equipped with an 800 V charging system to enable it to accommodate HPC facilities provided by IONITY with a rated power of up to 350 kW.

IONITY socket adopts European standard for combined charging system and CCS Combo 2 connector. The founding partners of IONITY-BMW Group, Daimler AG, Ford Motor Company and Volkswagen Group are headquartered in Munich, Germany, and have equal shares in the joint venture.


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