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LG Corp. will invest 100 billion won in Kakao Mobility Corp. to allow its affiliates, including LG Energy Solution Ltd. and LG Electronics Inc., to create synergy with Kakao Mobility and find new growth opportunities in the mobility sector.
LG Energy Solution has been trying to expand its business beyond manufacturing electric vehicle (EV) batteries. It is now offering battery management services and recycling of used batteries.
LG Electronics last year introduced EV charging station management solutions.
LG said it would discuss more long-term cooperation plans with Kakao Mobility, South Korea's leading taxi-hailing firm and an affiliate of Kakao Corp., which runs the country's leading mobile messenger app Kakao Talk.
