LG Electronics advances into EV charging business

LG said it plans to establish an EV charging production line at the LG Digital Park in Pyeongtaek, some 60km south of Seoul, within this year.

SEOUL: LG Electronics Co says it has acquired a domestic electric vehicle (EV) charging maker to advance into the EV charging solutions business amid a global electrification push.

LG Electronics recently acquired a 60% stake in AppleMango Co for an unspecified amount, with GS Energy Corp and GS Neotek taking over 34% and 6% stakes in the company, respectively, to secure a new growth engine, the company said in a statement.