LG accelerates its EV charger business
LG Electronics announces it has acquired South Korean electric vehicle charger solutions provider, AppleMango Co., Ltd., 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, a press release reads.
The new acquisition is said to help LG to become an integrated solutions provider, bringing together its new charger development capabilities and existing in-house-developed EV charging management system.
Established in 2019, AppleMango has developed proprietary technologies and systems, including a fast charger. In addition to the company’s charging tech, LG will secure access to the necessary operational infrastructure by working closely with GS Energy and GS Neotek.
The EV charging market is expected to grow rapidly due to the surging demand for more eco-friendly vehicles. Leveraging our know-how and experience in the B2B sector, we will offer customized, integrated vehicle charging solutions for diverse customers, enhancing the competitiveness of our existing business and ensuring our readiness for future opportunities, said Paik Ki-mun, senior vice president of LG Electronics Business Solutions Company, in the press release.