LG Electronics (CEO Joo-wan Cho) is accelerating the global expansion of its electric vehicle charging business by joining hands with North America's No. 1 electric vehicle charging business operator (CPO, Charge Point Operator).

LG Electronics announced on the 19th that it recently signed a 'business agreement to expand electric vehicle charging business' with North American charging service provider ChargePoint.

A signing ceremony was held at ChargePoint's headquarters in Campbell, California, USA, attended by LG Electronics' Seo Heung-gyu, head of EV charging business, and ChargePoint's Rick Wilmer, CEO.

ChargePoint is North America’s largest CPO, operating electric vehicle charging stations across the U.S. and Canada. We are also conducting electric vehicle charging business in global markets including 16 European countries outside of North America and India.

LG Electronics CEO Cho Joo-wan has designated the electric vehicle charger business as one of the new growth engines for achieving the vision of 100 trillion won in sales by 2030, and announced that he would quickly foster it into a trillion-won business.

LG Electronics, which began producing electric vehicle chargers at its Texas plant in January, will use this agreement to expand its electric vehicle charging business to global markets including North America and Europe.

With this agreement, LG Electronics will secure Chargepoint, which has a vast charging infrastructure, as an additional customer in addition to its existing CPO customers. Chargepoint will be able to receive a stable supply of high-quality LG Electronics electric vehicle chargers.

In particular, the two companies expect that this agreement will increase their competitiveness in winning bids for public institutions' charging infrastructure expansion projects. In the case of US government projects, business operators are selected by considering factors such as whether they are produced domestically and the level of quality/security.

LG's electric vehicle chargers produced in Texas, USA, have received charging stability certification from UL, and ChargePoint charging control software has also obtained US federal government security certification (FedRAMP).

The collaboration between LG Electronics and ChargePoint is expected to create synergy in discovering new charging business opportunities.

LG Electronics has established itself as a trusted business partner by operating various B2B businesses in North America, including hotel TVs, digital signage, and robots.

The two companies will collaborate to expand the charging business to new customers, including B2B partners with which LG Electronics has a network, such as hotels, hospitals, and shopping malls.

LG Electronics is working with ChargePoint to advance its electric vehicle charging solutions to strengthen its position as a ‘charging solution provider’ beyond a ‘charger manufacturer.’

First, we will focus on applying LG Electronics' commercial display advertising solution 'LG DOOH Ads' to electric vehicle chargers.

LG DOOH Ads is a solution that delivers advertising content optimized for various environments such as stores and outdoors.

LG DOOH Ads expands the solution experience of B2B customers by conveniently sending various advertisements through the charger display.

They are also collaborating to link LG Electronics' ThinQ with ChargePoint's home electric vehicle charging solution, Home Flex.

Through this, ThinQ is expected to expand into a smart home platform that not only controls home appliances, but also manages home devices and electric vehicle chargers, including managing charging status and adjusting charging schedules.
br /> Meanwhile, according to German consulting firm Roland Berger, the global electric vehicle charging market size is expected to grow by an average of 23.5% per year to reach approximately USD 186 billion in 2030, in line with the strengthening of environmental regulations and the expansion of electric vehicles.

In particular, the United States, the world's largest electric vehicle charging market, enacted the 'National Electric Vehicle Charging Infrastructure Expansion Act (NEVI)' in 2021 and is accelerating the expansion of charging infrastructure with a goal of building a total of 500,000 electric vehicle charging stations by 2030.

LG Electronics' Seo Heung-gyu, head of EV charging business, said, "Based on collaboration with ChargePoint, the largest CPO in North America, we will establish ourselves as a leading electric vehicle charging solution provider in the global market."