BlackRock joins e-car charging venture Ionity in $788 million funding round

Investing.com | Nov 24, 2021 at 8:53 AM
  • The world’s largest money manager, has joined electric vehicle charging (EV) venture Ionity in a 700 million euro ($788 million) funding round, providing a much-needed cash injection to speed up construction of high-power loading sites.
  • Ionity did not provide a detailed breakdown of the funding round, in which existing investors Volkswagen (DE:VOWG_p), Daimler (OTC:DDAIF), BMW, Ford and Hyundai also participated.
  • BlackRock’s investment in Ionity makes it the venture’s first shareholder from outside the automotive industry, highlighting the growing interest in the EV sector.