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LG Electronics Inc. has begun mass-producing electric vehicle (EV) chargers at the LG Digital Park in Pyeongtaek to advance into the EV charging solutions business amid the global electrification trend.
Last year, it acquired a 60 percent stake for an unspecified amount in domestic EV charger maker AppleMango Co., which has advanced technologies in manufacturing slow and fast chargers, both for household and commercial use.
The acquisition of AppleMango, which LG renamed HiEV Charger., was designed to strengthen LG’s business portfolio by creating synergies with its existing EV components business.
Meanwhile, LG’s EV components business, a future growth driver, has gained ground in recent quarters.
According to LG, the value of orders for its EV component solutions, such as in-vehicle infotainment systems and headlamps, had reached 80 trillion won in accumulation as of the end of April.
LG began developing EV charging solutions in 2018 and formed a division dedicated to overseas EV business in November last year.
