A venture formed by Volkswagen Group, BMW and other automakers is in talks to substantially expand its European electric-car charging network to keep pace with rising sales of battery-powered vehicles.
The automakers are considering additional funding for their Ionity consortium, which has been building out fast-charging points along European highways since 2017, emulating Tesla’s Supercharger network. After EV sales tripled in the region last year, the companies fear long lines at charging points could put off potential buyers.
Ionity and its shareholders are in discussions to work out a growth plan for the future, including a rapid expansion of high-speed charging infrastructure. “Additional investment opportunities are in consideration,” CEO Officer Michael Hajesch said in an interview.
Any extra funding would support Ionity beginning to target urban areas as well as less-frequented freeways where it’s currently absent. Each of the venture’s shareholders -- which also include Daimler, Ford and Hyundai Motor Group -- already have each invested roughly 200 million euros into the company.