EVs 'Will Never Survive' If Charging Doesn't Make Money, Ionna CEO Says

Ionna CEO Seth Cutler said EV charging infrastructure must be for-profit or it will never survive, and neither will EVs. The joint venture of BMW, Mercedes, GM, Honda, Hyundai, Kia, Stellantis and Toyota aims to triple its network this year from 80 stations at the start of the year.

• Ionna is a joint venture of eight automakers including Toyota for US charging
• Goal is to triple the network from 80 stations at the start of the year
• Company bought land at several dozen sites for future monetization
• Partnerships with Circle K, Wawa, Sheetz and Casey's for scaling