Toyota Joins Major Automakers In Backing Electric Vehicle Charging Firm IONNA

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Toyota has joined a group of major automakers in investing in electric vehicle charging company IONNA, which is building a high-powered EV charging network across North America.

The announcement was made on Wednesday, with the group declining to disclose the value or additional details of the investment.

IONNA was formed as a joint venture last year by seven large automakers, including Mercedes, GM, Stellantis, Honda, BMW, and Hyundai-Kia, with the goal of developing a fast-charging network to compete with Tesla’s Supercharger network.

Toyota’s investment in the JV would grant Toyota and Lexus customers access to IONNA’s public network of DC fast chargers, which are set to begin deployment later this year.

IONNA planed to install at least 30,000 charging ports in North America by 2030, marking a significant expansion of the region’s EV charging infrastructure.

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