LG accelerates its electric vehicle charger solutions business

electric vehicle charging

LG Electronics has announced the purchase of South Korean electric vehicle (EV) charger solutions provider, AppleMango, jointly with GS Energy and GS Neotek. The acquisition is expected to accelerate the growth of LG’s EV charging solution business and enable the company to take advantage of future business opportunities.

This strategic move will enable the company to create fully-featured charging stations boasting a user-friendly interface and real-time control and management. LG said that it is continuing to strengthen its EV charging solution business by leveraging its digital signage technologies – specifically, its IP-rated outdoor digital display with sturdy, dust- and water-proof enclosure.

Established in 2019, AppleMango has developed proprietary technologies and systems, including a slim, fast charger, to meet the rising global demand for electric vehicle charging solutions. In addition to the company’s market-leading charging tech, LG will secure access to the necessary operational infrastructure by working closely with GS Energy and GS Neotek. Both GS companies have considerable experience in operating EV charging stations and related businesses.

It is hoped that this new acquisition will help LG to become an integrated solutions provider, bringing together its new charger development capabilities and existing in-house-developed EV charging management system. Moreover, the move is expected to create synergy with LG’s ongoing efforts in the area of vehicle components, including the development and supply of EV batteries and adjacent products, such as energy storage system (ESS) and energy management solutions.

“The EV charging market is expected to grow rapidly due to the surging demand for more eco-friendly vehicles,” said Paik Ki-mun, senior vice president of LG Electronics Business Solutions Company. “Leveraging our know-how and experience in the B2B sector, we will offer customised, integrated vehicle charging solutions for diverse customers, enhancing the competitiveness of our existing business and ensuring our readiness for future opportunities.”

This year, LG are expected to establish an EV charger production line at LG Digital Park in South Korea, aiming to provide customised charging solution for various settings, such as private residences, shopping malls, hotels and public institutions, in the near future.

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