LG ‘FULL SPEED AHEAD’ WITH ITS EV CHARGER SOLUTIONS BUSINESS2023.05.25
SEOUL, May 25, 2023 — LG Electronics (LG) is expanding its electric vehicle (EV) charger solutions business, a move expected to further solidify the company’s position in the fast-growing EV charger segment. LG held a ceremony yesterday to celebrate the commencement of EV charger products manufactured by HiEV Charger (formerly known as AppleMango). HiEV Charger, an EV charging solution company, was acquired by LG, GS Energy and GS Neotek in 2022.
HiEV Charger unveiled its product portfolio during the ceremony, which features four different chargers: two 7kW models (wall-mounted and stand-type) and two fast-charging models (100kW and 200kW). All of the new products offer convenient installation and are suitable for use in multiple environments, such as homes, office buildings and a diverse range of other commercial facilities.
The newly introduced EV chargers boast an array of safety-enhancing features. In addition to being water- and dust-resistant, the chargers are equipped with functions designed to provide electrical and thermal protection throughout the charging process. The new chargers also have a slim depth that supports the efficient use of space, while the inclusion of two connectors means two EVs can be charged simultaneously. Simple management is provided through features like connector lock detection and remote updates.
By combining its know-how and technical prowess from the B2C and B2B sectors, LG is able to deliver differentiated solutions and enhanced customer experiences. The company’s well-established capabilities in manufacturing, quality control, after-sales service and supply chain management create the foundation necessary to achieve sustained success in the EV charging solution business. Looking beyond the domestic market, LG is currently planning EV charging product launches and related collaborations in countries around the world.
The global EV charging market is expected to grow to USD 186 billion by 2030, according to Roland Berger, a global management consulting firm. The market expansion is being driven by several factors, including the ongoing implementation of regulations aimed at protecting the environment, and the continuous progress of vehicle electrification.
“The start of EV charger production marks a significant milestone for LG, propelling us on a journey to becoming a total EV charging solutions provider,” said Suh Heung-kyu, vice president and head of the Electric Vehicle Charging business division of LG Electronics Business Solutions Company. “We will focus on delivering convenient and fast EV charging solutions for EV owners and differentiated EV charging solutions offering diverse form factors and new services for our valued partners.”