FILE PHOTO: An Ionity electric vehicle charging station is pictured on the motorway service station "Dresdner Tor Sued" near Dresden, Germany, August 27, 2019. REUTERS/Annegret Hilse/File Photo
FRANKFURT (Reuters) - BlackRock, 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.
The investment, which also includes contributions from existing shareholders, will enable Ionity to more than quadruple the number of high-power 350 kilowatt charging points to 7,000 by 2025, Ionity said on Wednesday.
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