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Toyota joins group of automakers to help build EV charging network
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Toyota joins group of automakers to help build EV charging network
Jul 10, 2024 6:42 AM

July 10 (Reuters) - Toyota ( TM ) has joined a group

of major automakers to back electric vehicle charging firm,

IONNA, which is building a high-powered EV charging network

across North America, the companies said on Wednesday.

The group's statement did not provide a value or additional

details on the investment.

Seven large automakers, including Mercedes, GM,

Stellantis ( STLA ), Honda ( HMC ), BMW and

Hyundai-Kia formed IONNA as a joint venture last

year to develop a fast-charging network that would compete with

the Tesla Supercharger network.

Toyota's ( TM ) investment in the JV will give Toyota ( TM ) and Lexus

customers access to the public network of DC fast chargers IONNA

will begin deploying later this year.

IONNA plans to install at least 30,000 charging ports in

North America by 2030.

(Reporting by Nathan Gomes in Bengaluru; Editing by Janane

Venkatraman

)

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