LG is jumping into the EV charging business with the acquisition of a Korean EV charger developer called AppleMango, it announced. The move will allow them to create “full-featured” charging stations with a user-friendly interface and real-time management and control. In particular, it will be able to take advantage of “rugged, dust-proof and water-resistant” outdoor digital display technology.
LG is well known for its electric mobility, developing batteries, displays and sensors for electric cars. It’s recently resultant with Magna International to develop electronic motors, inverters and integrated chargers for automakers. The acquisition will expand that, allowing it to combine new charging capabilities with the current in-house EV charge management system. It will also allow LG to “create synergy” with its existing EV battery business and products such as energy storage and energy management systems.
AppleMango was founded three years ago in 2019 and has developed proprietary technology like thin and fast EV chargers. LG will also work with partners GS Energy, which operates EV charging stations, and IT supplier GS Neotek to develop the necessary infrastructure. LG holds a 60% stake in AppleMango, GS Energy holds a 34% stake, and GS Neotek has a 6% stake, according to the report. TechCrunch.
LG plans to install an EV charger production line at LG Digital Park in South Korea by the end of 2022. The goal is to provide a wide range of customers with customized EV charging solutions, including private homes, medium-sized homes, and commercial buildings. shopping malls, hotels and public buildings.
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