LG Electronics acquires South Korean EV charger maker Apple Mango
LG Electronics has acquired AppleMango, an EV charger manufacturer from South Korea, together with GS Energy and GS Neotek. LG says the acquisition will help it create “fully-featured charging stations” and integrate the existing charging management system developed in-house.
AppleMango has developed proprietary technologies and systems, including a slim, fast charger, since 2019. LG says that in addition to the company’s market-leading charging tech, LG will secure access to the necessary operational infrastructure by working closely with GS Energy and GS Neotek. Both GS companies have considerable experience operating EV charging stations and related businesses, says LG.
LG also expects to add digital signage technologies to create charging stations with a user-friendly interface and real-time control/management. The company mentions explicitly its IP-rated outdoor digital display with a sturdy, dust- and water-proof enclosure.
Paik Ki-mun, senior vice president of LG Electronics Business Solutions Company, said, “Leveraging our know-how and experience in the B2B sector, we will offer customised, integrated vehicle charging solutions for diverse customers, enhancing the competitiveness of our existing business and ensuring our readiness for future opportunities.”
This year, LG says it will establish an EV charger production line at LG Digital Park in South Korea and aims to provide customised charging solutions for private residences, shopping malls, hotels and public institutions.
Moreover, LG expects the move to create synergy with the company’s “ongoing efforts in the area of vehicle components, including developing and supplying EV batteries and adjacent products, such as energy storage system (ESS) and energy management solutions.”
LG has been growing the e-mobility portfolio with the recently-launched EV charging solution business joining the LG Vehicle Component Solutions (VS) Company, ZKW Group and the LG Magna e-Powertrain joint venture. The latter has recently become a core supplier to General Motors and is currently building a new EV component factory in Ramos Arizpe, Mexico.