IONITY happily announced that it secured EUROP-E funding from the European Union for the Pan-European EV infrastructure across 13 countries (from Poland to Portugal and from Sweden to Italy).

According to the press release, some 340 ultra-fast chargers (350 kW each) will be installed across 13 EU Member States by Q8 and IONITY for a total of €195.5 million ($218 million), including €39.1 million ($43.6 million) from EU (largest ever EU co-funded vehicle charging infrastructure project).

"This project will focus on providing full pan-European coverage along all 9 TEN-T Core Network Corridors and the Core Network and will deploy stations also in remote locations or regions where EV adoption is still low, creating a non-discriminatory and interoperable network."

Average cost of a single 350 kW charging stand was estimated at €575,000 ($642,000) or €1,640 per kW ($1,830 per kW).

The network currently consists of 87 charging stations and an additional 45 is under construction. In total, more than 400 to be installed (probably including EUROP-E stations).

IONITY is a joint venture between BMW Group, Daimler AG, Ford Motor Company, and Volkswagen group with Audi and Porsche.