Internalization of charger development and production capabilities following the acquisition of Hibee Charger
Selection of 4 charger models, featuring a diverse portfolio, stability, and convenience

LG Electronics is launching a full-scale electric vehicle (EV) charging solution business, starting with the production of EV chargers.

On the 24th, LG Electronics held an opening ceremony for the 'production of the first charger product' at LG Digital Park in Pyeongtaek, attended by LG Electronics employees and GS officials.

At the event, Apple Mango, a specialist in electric vehicle chargers that became a subsidiary of LG Electronics last year, announced that it is changing its name to 'HiEV Charger'.

LG Electronics acquired a 60% stake in Hybee Charger, a company possessing core electric vehicle charger technology, and incorporated it as a subsidiary, while the GS Group holds a 40% stake.

LG Electronics is internalizing charger development and production capabilities following the acquisition of Hi-B Charger.

In addition, we plan to strengthen our electric vehicle charging solution business through collaboration with GS, which possesses charging station operation know-how and customer contact points.

In this ceremony, a 7kW (slow, wall-mounted type) that can be safely and conveniently installed in homes, offices, as well as various commercial facilitiesA total of four types of charger products were introduced, including 100kW (fast), 200kW (fast), and 100kW (stand).

These chargers are characterized by improved stability (waterproof/dustproof/charging safety protection functions, etc.), efficient use of installation space (thin thickness/2-channel dispenser), ease of use (LED status display/touch display application, etc.), and management efficiency (connector connection detection/remote update, etc.).

LG Electronics has long been investing heavily in the electric vehicle charging solution business.

Starting with the advanced development of electric vehicle charging solutions in 2018, the company supplied an integrated electric vehicle charging management solution to a future-type gas station opened by GS Caltex in 2020, and in the organizational restructuring last November, it established an EV Charging Business Division dedicated to the business.

In addition, based on the extensive understanding of customers and spaces accumulated across various fields through B2C and B2B businesses, we plan to pursue the construction of customized complex charging stations to enhance the 'value of the charging experience' for the ever-diversifying electric vehicle charging customers.

We plan to launch products targeting global markets with significant growth potential, such as North America, Europe, and Asia, and expand business model cooperation with local charging operators.

According to the German consulting firm Roland Berger, the global electric vehicle charging market is projected to grow to $186 billion by 2030.

The size of the electric vehicle charging solution and infrastructure market is expected to expand further due to stricter eco-friendly regulations and the acceleration of the automotive industry's electrification strategies.
Seo Heung-kyu, Senior Vice President of LG Electronics’ EV Charging Business, stated, “This charger production marks a significant momentum for LG Electronics to be reborn as an electric vehicle charging solution provider,” adding, “We will focus on providing differentiated charging solutions, such as various charger form factors and new services, based on convenient and fast charging for customers and a stable quality foundation for charging operators.”