OMV Joins E-Mobility Joint Venture Ionity

By Marc Navarro Gonzalez Features Dow Jones Newswires

OMV AG (OMV.VI) said Friday that it has become a partner in Ionity, a new joint venture formed to build a network of charging stations for electric vehicles in Europe.

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The oil-and-gas company's role in Ionity will consist of building charging stations in Austria, the Czech Republic, Hungary and Slovenia, Vienna-based OMV said.

Ionity's founding members are car makers Bayerische Motoren Werke AG (BMW.XE), Daimler AG (DAI.XE), Volkswagen AG (VOW.XE) and Ford Motor Co (F). The joint venture plans to build and operate around 400 high-power-charging stations on major European routes by 2020.

The first fast-charging facility at an OMV site is set to open in the first half of 2018, the company said, without disclosing any financial details.

Write to Marc Navarro Gonzalez at marc.navarrogonzalez@dowjones.com

(END) Dow Jones Newswires

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November 17, 2017 05:21 ET (10:21 GMT)