Ionity has announced that it plans to have over 1,000 charging sites across its European network by 2025.
The move marks a significant increase on the 400 sites currently in use, and will see the number of charging points increase from 1,500 to about 7,000.
Ionity is a collaboration between major car manufacturers, including BMW Group, Hyundai Motor Group, Ford, Mercedes-Benz and Volkswagen. Investing in the network aims to make owning EVs more attractive by increasing the fast public charging vehicle network.
The chargers use the common Combined Charging System (CCS) and can charge at speeds of up to 350kW.
The €700 million (£588m) investment in upgrading the network is helped by capital from American investment firm Blackrock.
The expansion will see the current model of adding chargers along motorways adapt to include major city locations and busy main roads. These spots will get six to 12 charge points each.
Ionity is also planning to buy more land that will allow it to offer catering services and shops at charging locations.
It will also see some of the more popular existing locations expanded with more charge points.
Oliver Blume, chairman of the executive board at Ionity investor Porsche, said: “We are seeing a clear increase in electromobility and the associated high-performance charging infrastructure.
“At Porsche, 50 per cent of the cars delivered worldwide by 2025 are expected to be partially or fully electric – more than 80 per cent by the end of the decade.
“By investing in the Ionity joint venture, we are sending an important signal to customers that elevates the comfort and convenience of travelling in an electric vehicle even further.”