IONITY happily announced that it secured EUROP-E funding from the European Union for the Pan-European EV infrastructure across 13 countries (from Poland to Portugal and from Sweden to Italy).
According to the press release, some 340 ultra-fast chargers (350 kW each) will be installed across 13 EU Member States by Q8 and IONITY for a total of €195.5 million ($218 million), including €39.1 million ($43.6 million) from EU (largest ever EU co-funded vehicle charging infrastructure project).
"This project will focus on providing full pan-European coverage along all 9 TEN-T Core Network Corridors and the Core Network and will deploy stations also in remote locations or regions where EV adoption is still low, creating a non-discriminatory and interoperable network."
Average cost of a single 350 kW charging stand was estimated at €575,000 ($642,000) or €1,640 per kW ($1,830 per kW).
The network currently consists of 87 charging stations and an additional 45 is under construction. In total, more than 400 to be installed (probably including EUROP-E stations).
IONITY is a joint venture between BMW Group, Daimler AG, Ford Motor Company, and Volkswagen group with Audi and Porsche.
"Currently, 38 EUROP-E HPC stations are already established and operational with additional 32 stations that are already in advanced construction stage and will become operational over the next few months.
The EUROP-E project is co-financed by the Connecting Europe Facility of the European Union. The European Commission selected this project via the blending call which combines different financial instruments. This project has a total investment of €195.5M including €39.1M EU co-funding. With the recent signing of the loan agreement, the financial backing for the project has been completed and the rapid expansion of the network can begin."