Ionna CEO says charging infrastructure must turn profit or EVs will fail
By Eve
Seth Cutler, chief executive of Ionna, the charging joint venture backed by eight automakers including BMW, Mercedes, GM, Honda, Hyundai, Kia, Stellantis and Toyota, told The Drivecast that the network must reach financial independence and profitability over time. Ionna has signed partnerships with Circle K, Wawa, Sheetz and Casey's and has purchased land to build out its US network, funded by undisclosed capital from its automotive backers.
Why it matters
The statement underscores a shift in charging deployment strategy, with major OEMs now treating infrastructure as a standalone profit centre rather than a loss making enabler. Procurement teams and site hosts can expect Ionna to prioritise commercially viable locations and partnerships that deliver returns, potentially narrowing the geographic spread of publicly funded or lower margin rollouts.
Source
- Source
- https://www.thedrive.com/news/evs-will-never-survive-if-charging-doesnt-make-money-ionna-ceo-says
- Original title
- “EVs ‘Will Never Survive’ If Charging Doesn’t Make Money, Ionna CEO Says”
- Published
- 1 October 2026
- Updated
- 5 October 2026
In this story
- Topic
- EV Charging
- Place
- United States
- Tag
- Ionna
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