LG buys its way into the EV charging business
LG is jumping into the EV charging business with the acquisition of a South Korean EV battery charger developer called AppleMango, it
. The move will allow it to create"fully-featured" charging stations with a user-friendly interface and real-time control and management, it said. In particular, it will be able to leverage its"sturdy, dust- and water-proof" outdoor digital display tech. LG is well-established in electric mobility, developing batteries, screens and sensors for electric cars. It recentlywith Magna International to develop e-motors, inverters and onboard chargers for automakers. The acquisition will expand that, allowing it to marry the new charger capabilities with its current in-house EV charging management systems.
AppleMango was established three years ago in 2019 and has developed proprietary tech like a slim and fast EV charger. LG will also work with partners GS Energy, which operates EV charging stations and IT provider GS Neotek to develop the necessary infrastructure. LG took a 60 percent stake in AppleMango, GS Energy a 34 percent stake and GS Neotek a 6 percent share, according toLG plans to install an EV charger production line at LG Digital Park in South Korea by the end of 2022.
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