Electric-vehicle-charging company Ionity announced an investment by a consortium that includes many auto makers. Ionity is a privately held firm based in Munich, but investors should have good reason to pay attention to Wednesday’s announcement.
Ionity is getting about 700 million euros, or $780 million, from BlackRock (ticker: BLK) as well as its existing shareholders—including Ford Motor (F), BMW (BMW.Germany), Volkswagen (VOW3.Germany), and others—to expand its rapid-EV-charging network across Europe.
“The…
