LG Electronics announced a new business agreement with ChargePoint, the leading electric vehicle (EV) charging operator in North America, to expand its EV charging business. ChargePoint, known as the No. 1 CPO (Charging Point Operator) in North America, operates EV charging stations across the US and Canada, as well as in 16 European countries and India.
The agreement aims to leverage ChargePoint’s extensive charging infrastructure with LG Electronics’ US-produced chargers, starting from January. This collaboration includes integrating ChargePoint’s charging management software, which has received security certification from the US federal government, with LG Electronics’ chargers.
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This strategic partnership is expected to enhance competitiveness in securing contracts for expanding charging infrastructure in public institutions. The companies plan to target new customers, including B2B partners such as hotels, hospitals, and shopping malls within LG Electronics’ network.
LG Electronics aims to strengthen its position as a charging solution provider by integrating EV charging solutions with ChargePoint. This includes integrating LG DOOH Ads, a commercial display advertising solution, into EV chargers and linking LG Electronics’ ThinQ with ChargePoint’s home EV charging solution, Home Flex.
See also: LG Electronics Unveils Electric Vehicle Charging Solutions For Various Spaces
According to German consulting firm Roland Berger, the global EV charging market is projected to grow at an average annual rate of 23.5%, reaching approximately $186 billion by 2030. The US, as the world’s largest EV charging market, aims to establish 500,000 EV charging stations by 2030, further accelerating the dissemination of charging infrastructure.