Last summer, seven of the world’s largest car companies announced a partnership to address America’s EV charging challenges. Now, the fast-charging venture has been officially named Ionna, and its CEO has been announced as Seth Cutler, who previously held executive roles at EV Connect and Electrify America.
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Big Auto’s charging play
Reliability and availability of public charging stations have been significant issues for the EV industry. Last year, several auto manufacturers recognized the need for improvement in EV charging to boost electric car sales.
Ionna has announced plans to introduce its first stations in the U.S. by 2024, with expansion into Canada. The joint venture between BMW, Honda, General Motors, Hyundai, Kia, Mercedes-Benz, and Stellantis aims to alleviate charging anxiety and ultimately increase EV sales by providing at least 30,000 high-powered charge points across North America.
This initiative is a welcome development considering the current state of the charging infrastructure in America, which suffers from a lack of public plugs and reliability issues, with the exception of Tesla’s Supercharger network.
The U.S. National Renewable Energy Laboratory estimates a need for 182,000 fast-charging plugs by 2030, highlighting the importance of improving public charging access for EV owners.
Historically, car companies relied on third-party charging providers, unlike Tesla, which established its charging network in 2012. Now, several automakers are making their own investments and partnerships in the charging space, signaling a significant shift in the industry.
Additionally, Tesla’s North American Charging Standard has been widely adopted by major automakers, resulting in an exchange that grants owners of certain brands access to Tesla’s charging network.
Federal funds are also being invested in the charging space, with President Joe Biden’s EV charging programs expected to gain momentum in 2024.