Royal Dutch Shell and Renault are two companies that have shown a keen interest in taking a stake in the Electric Vehicle charging group Ionity.
Ionity, which is owned by Volkswagen, Daimler, BMW, and Ford has been looking for shareholders to expand their network of fast-chargers across Europe.
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Ionity’s shareholders also include South Korea’s Hyundai Motor, Volkswagen units, Porsche AG and Audi. It has 348 stations in operation across Europe with 45 still under construction.
Ionity ranks among the topmost and can charge for electric vehicles within minutes, at a capacity of up to 350 kilowatt-hours.
Sources who have requested anonymity have said that the final bids for 20-25% stake which are valued at $475 to $594 million are due in July.
Shell and Renault have refused to comment on the matter, while Ionity was unavailable for comment.