LG buys its way into the EV charging business

LG is entering the electric vehicle business with the acquisition of a South Korean electric vehicle battery charger developer named AppleMango, the company announced. The move will make it possible to create “fully functional” charging stations with a user-friendly interface and real-time control and management, it said. Specifically, it will be able to leverage its “rugged, dustproof and waterproof” outdoor digital display technology.

LG is established in electromobility and develops batteries, screens and sensors for electric cars. The company recently partnered with Magna International to develop electric motors, inverters and on-board chargers for automakers. The acquisition will expand on this and allow the company to integrate the new charger capabilities with its current internal EV charging management systems. It will also allow LG to create “synergies” with its current EV battery business and products such as energy storage and energy management systems.

Founded three years ago in 2019, AppleMango has developed proprietary technologies such as a sleek and fast electric vehicle charger. LG will also work with partners GS Energy, the operator of charging stations for electric vehicles, and IT provider GS Neotek to build the necessary infrastructure. LG took a 60 percent stake in AppleMango, GS Energy 34 percent and GS Neotek 6 percent TechCrunch.

LG plans to install an EV charger production line at LG Digital Park in South Korea by the end of 2022. The aim is to supply a wide range of customers with customized electric vehicle charging solutions, including private homes, shopping malls, hotels and public buildings.