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Toyota invests in Ionna to expand EV charging network across North America

Toyota has joined forces with seven other automakers to invest in Ionna, a company committed to installing “at least 30,000 charging ports” across North America by 2030. This move aligns with Toyota’s cautious but profitable approach to electrification, which has favored hybrids over full electric vehicles until now.

The Japanese automaker now joins BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis in backing the Durham, N.C.-based charging network, which launched in 2023.

Currently, Toyota offers one full EV in each of its brands: the Toyota bZ4X and the Lexus RZ450e crossovers, both manufactured in Japan. However, the automaker plans to produce three-row electric crossovers in the United States starting in 2025. By 2030, the automaker aims to offer 30 EV models globally across its two brands and produce up to 3.5 million EVs annually.

While other automakers have committed to transitioning entirely to EVs within the next decade, Toyota’s strategy focuses on a broader approach to reducing carbon emissions. This includes the wider adoption of fuel-efficient gasoline-electric and plug-in hybrids and improving internal combustion engines. This strategy has paid off as demand for hybrids has grown, partly due to the slow development of public charging infrastructure impacting full EV adoption.

“We are excited to announce our support of Ionna’s deployment of DC fast chargers throughout the U.S. and Canada,” said Ted Ogawa, CEO of Toyota Motor North America, in a written statement. “We believe this will not only promote the adoption of BEVs and increase customer confidence in the technology, but it will also provide our Toyota and Lexus customers with access to Ionna’s rapidly growing charging network in North America.”

Seth Cutler, CEO of Ionna, welcomed Toyota’s involvement, stating: “Their vision for the future of electric mobility in North America aligns perfectly with our mission to push the boundaries for the highest standards of quality, reliability, and customer experience. This partnership marks another significant achievement for many to come on our joint journey to transform EV charging and spearhead the adoption of sustainable transportation in North America.”

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