Hyundai Motor Group has become a shareholder in Ionity, a joint venture (JV) between BMW Group, Ford Motor Company, Daimler, and the Volkswagen Group with Porsche.

This move is expected to expedite Ionity’s mission to make long-distance EV travel across Europe a reality.

Established in November 2017, Ionity aims to set up and operate a high-power charging network along the main highways in Europe.

Facilitating long-distance EV travel, the company has welcomed Hyundai Motor Group on board as its latest strategic partner in the JV.

Ionity CEO 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.”

Hyundai Motor Group executive vice-president and head of product division Thomas Schemera said: “Our participation in this joint venture reaffirms the Group’s commitment to future electromobility. 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.”

Ionity currently has a network of almost 140 stations live in 14 European countries with an additional 50 under construction.

Ionity claimed that each station supplies 100% renewable energy, thereby contributing to a reduction in the CO2 footprint for its customers.