(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Toyota will invest in Ionna, a charging facility company jointly operated by seven automakers around the world, including Hyundai Motor Co., Kia Motors Co. and BMW Co., to establish an electric vehicle charging network in North America.

According to Reuters and Nihon Keizai on the 10th (local time), Toyota announced its Ionna investment plan in a statement. Ionna was founded last year by seven automakers around the world against Tesla, which has a market share of about 60% in the North American charging market. Hyundai Motor, Kia, Mercedes-Benz, General Motors (GM), Stellantis, Honda and BMW have invested. Toyota's investment in Iona means it has joined the charging alliance against Tesla.

Ionna aims to build a high-speed charging network in North America to beat Tesla and become a leading company. It plans to start installing electric car chargers later this year and increase them to 30,000 by 2030. The Ionna charger supports both Tesla's charging standards, the North American Charging Standard (NACS) and the general DC combo (CCS charging terminal).

Toyota's specific investment is not known.

 

 

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