Ionity to open 400 electric car charging stations in Europe by 2020-end

Ionity is planning to install 400 electric car charging stations in Europe by the end of 2020, with each having about 6 individual loading spots. It is the European electric vehicle charging joint venture of Volkswagen, BMW, Daimler and Ford.

So far, the company has installed 63 stations, with a further 52 under construction.

Michael Hajesch, Chief Executive Officer of Ionity, said, "There's a lot of momentum, activity will be high. The expansion plans are currently being prepared."

"This could include more and bigger charging stations along highways but also busy roads leading in and out of larger metropolitan areas where demand for charging infrastructure is highest. The competition in the electric vehicle charging infrastructure space, where players range from oil majors and engineering conglomerates to utilities and carmakers, would increase further in coming years," Hajesch further stated.

According to the International Energy Agency estimates, the number of electric cars on the road will increase to 125 million by 2030, boosting demand for chargers. IEA has estimated that there were almost 3 million private chargers at homes and workplaces and about 430,000 public chargers in 2017.