LG takes over maker of EV chargers and will build its own charging stations

LG has acquired the South Korean AppleMango, a company that develops charging stations. Later this year, LG wants to set up a production line for charging stations to be able to supply these to consumers and companies, such as shopping centers and hotels, ‘in the future’.

With the takeover wants LG expand its EV charger business and “catch up to business opportunities in the future.” The company says it is already developing technology that can be used for charging stations, such as a robust 21.5-inch screen that is dust and waterproof. LG now wants to combine these self-developed techniques with AppleMango’s experience to set up a charging station production line in South Korea later this year. to be able to set up.

LG expects the EV charging market to grow rapidly in the future as more electric cars are built. That is why the company wants to expand its charging station branch, including with this acquisition. The company wants to supply charging points to consumers, shopping centers, hotels and public institutions. LG has been in the EV market for some time and supplies EV batteries to car manufacturers, for example.

AppleMango was founded in 2019 and has developed ‘thin’ fast chargers, among other things. LG takes over the company together with GS Energy and GS Neotek, South Korean companies that, according to LG, have more experience in operating charging stations ‘and related matters’. According to a local medium LG will own 60 percent of AppleMango and the acquisition will cost a total of 100 billion won, the equivalent of 73.6 million euros.

LG’s robust display in a charging station