International Electric Vehicle Charging Association 'Charin' Joins

LG Innotek has joined CharIN (Charging Interface Initiative eV), an international electric vehicle charging association leading the standardization of EV charging methods. This is expected to give momentum to the expansion of the company's EV components business.

'CHARIN' is a global organization that develops standards for the 'Combined Charging System (CCS),' which is expanding in Korea, North America, and Europe. Over 100 companies are active as members, ranging from major automakers such as BMW, Daimler, GM, and Volkswagen to parts manufacturers such as Bosch and Continental.

LG Innotek has been actively invited by member companies of CHARIN to participate as a key member in the development of charging standards. This is due to the recognition of the company's "EV charging control communication" technology and competitiveness in automotive components.

LG Innotek's joining Charin is expected to serve as an opportunity to further strengthen relationships with existing automotive parts customers. A significant number of customers in the U.S. and Europe, LG Innotek's key overseas markets, support Charin's "Combined Charging System" as the standard.

LG Innotek plans to actively participate in the development of charging standards while accelerating its efforts to capture the eco-friendly electric vehicle parts market. We are already expanding our business by mass-producing products related to electric vehicle battery management and charging.

This company is recognized for its technological prowess and quality reliability by supplying high-efficiency, high-reliability electric vehicle components, such as EVCCs, DC-DC converters, and Battery Management Systems (BMS), to global companies. As of the end of last year, the order backlog, which will generate revenue over the next few years, amounted to approximately 1.7 trillion won in electric vehicle components alone.

In addition to components dedicated to electric vehicles, LG Innotek possesses a lineup of approximately 20 types of automotive parts. Since 2005, it has been expanding the application of core technologies, such as wireless communication and power conversion, accumulated in its IT components business into the field of automotive electronics by converging them.

"With the electric vehicle market expanding rapidly, responsiveness to charging standards will become a core competitive advantage for the automotive parts business," a company official said. "Joining 'CHARIN' has enabled us to respond even more quickly to technological changes."