Photo courtesy of Ford.

Photo courtesy of Ford.

Several automakers established a joint venture for the development of high-power charging networks for electric vehicles across Europe this year, with the goal of ultimately opening a network of 400 stations across the region by 2020.

IONITY, which is the joint venture between BMW AG, Daimler AG, Ford, and Volkswagen, along with Audi and Porsche, is set to open 20 stations in Germany, Norway, and Austria this year, Ford stated in a release. The stations will be placed at 75-mile intervals along major roads.

“The first pan-European high-power charging network plays an essential role in establishing a market for electric vehicles. IONITY will deliver our common goal of providing customers with fast charging and digital payment capability, to facilitate long-distance travel,” said IONITY CEO Michael Hajesch.

The joint venture looks to establish 100 more stations in 2018, all of which will enable simultaneous charge of multiple customers and a different car brands.

Each charging point will have a capacity of 350 kW, and will use an existing European standard to reduce charging times compared to existing systems, according to a release from Porsche.