The investment will support the buildout of its high-powered charging network for battery electric vehicles (BEVs) across North America. This allows Toyota and Lexus customers access to the public network of DC fast chargers Ionna will begin deploying later this year. Ionna plans to install at least 30,000 charging bays in North America by 2030, and stations will include both NACS and CCS connectors to support all BEV drivers.

Ionna's focus on the holistic customer experience aligns closely with Toyota in ensuring that charging stations provide visitors with amenities and convenience in addition to vehicle charging. Ionna plans to bring its first batch of DC fast charging stations online in 2024 and will continue the buildout of additional stations throughout the decade.

"This partnership marks another significant achievement of many to come in our joint journey to transform EV charging and spearhead the adoption of sustainable transportation in North America," said Seth Cutler, CEO of Ionna.

Toyota is the latest manufacturer to join in its support of the EV charging company, with BMW, GM, Honda, Hyundai, Kia, Mercedes-Benz and Stellantis also pledging support.