South Korean electronics giant, LG Electronics, is reportedly making its foray into the electric vehicle (EV) charging infrastructure business. The move is in line with LG Group’s strategy of having its major subsidiaries, including LG Electronics, provide all services from charger manufacturing to charging solutions and platforms, according to a Korean media report.
Last year, LG Electronics acquired AppleMango, a South Korean manufacturer for EV chargers. The report suggests that LG’s charging infrastructure division has commenced operations and could unveil the “LG Electric Vehicle Charger” as early as April. However, it remains unclear whether the charger will be an AC or DC charger as AppleMango had both options.
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Industry insiders have revealed that LG Electronics has already prepared for mass production of EV chargers at the LG Digital Park in Pyeongtaek, Gyeonggi Province. The smartphone production line that was previously used by the mobile division has been converted for charger production.
LG Energy Solutions, which belongs to LG Chem, has been the company’s flagship division in the electric mobility industry. However, the new charging infrastructure unit based at LG Electronics is set to add a new field of expertise. Other LG units, such as LG Innotek and LG U+, are also expected to be involved in the charging infrastructure business. LG Innotek manufactures converters, while LG U+ is responsible for the platform business.
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In a statement, an LG Electronics spokesperson said, “LG Electronics is actively responding to the rapidly changing market environment and is continuously expanding its business portfolio with new growth engines.” LG Electronics’ entry into the EV charging infrastructure business is a significant development in the electric mobility industry and could help boost EV adoption.
