Hyundai Motor Group has joined Ionity, the joint venture between BMW Group, Ford Motor Company, Daimler AG, and the Volkswagen Group with Porsche AG.
The group intends to make long-distance electric vehicle (EV) travel across Europe a possibility.
Ionity was founded in 2017, and it is hoping to fast track its plans to operate a High-Power Charging Network along the main highways in Europe.
CEO at Ionity, 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 company already has a network of 140 stations live across 14 European countries, with 50 more under construction.
Each station supplies 100% renewable energy and is thereby contributing to a reduction in the CO2 footprint for its customers.
Thomas Schemera, executive vice president and head of product division at Hyundai Motor Group, said: “Our participation in this joint venture reaffirms the Group’s commitment to future electro mobility.
“I am confident that our work with Ionity will open a new era of High-Power charging experiences, where charging will be seamless and easier than refuelling for our customers.”
The European network company is currently in the process of opening its planned 50 stations in the UK, with more to come over the next 12 months.
Each charger will offer 350kWh, capable of charging an electric vehicle in just 15 minutes if it can accept the capacity, or 25-30 minutes if it can only accommodate a lower capacity.
One average, each station will have six chargers. They will be position on motorways and major roads, forming one-third of Ford’s EV charging strategy