IONITY is a joint venture between BMW Group, Ford Motor Company, Daimler and the Volkswagen Group with Porsche and aims to establish and operate a high power charging network along the main highways in Europe.
Hyundai Motor Group, which includes the Hyundai and Kia brands, will join the existing partners to help make long distance travel in electric vehicles (EVs) across the region a reality.
IONITY has so far achieved a network of nearly 140 charging stations in 14 European countries, with a further 50 under construction.
Every station supplies 100% renewable energy and is therefore helping contribute towards reducing the carbon footprint of customers.
IONITY CEO Michael Hajesch said: “Hyundai Motor Group brings significant international experience and know-how with a full strategic commitment to e-mobility. The participation of new investors in IONITY is a clear signal of trust indicating that the work of our young company is already bearing fruit.”
The agreement is subject to clearance by merger control authorities.