LG acquires AppleMango together with GS Energy and GS Neotek, accelerates its EV chargers business

27 June 2022, 08:09:20

LG Electronics today announced it has acquired South Korean electric vehicle (EV) charger solutions provider, AppleMango Co., Ltd., jointly with GS Energy and GS Neotek. The acquisition is expected to accelerate the growth of LG's EV charging solution business and enable the company to take advantage of future business opportunities.

This strategic move, combined with LG's own expertise and wealth of experience in both B2C and B2B segments, will enable the company to create fully-featured charging stations boasting a user-friendly interface and real-time control/management. LG continues to strengthen its EV charging solution business by leveraging its exceptional digital signage technologies – specifically, its IP-rated outdoor digital display with a sturdy, dust- and water-proof enclosure.

Established in 2019, AppleMango has developed proprietary technologies and systems, including a slim, fast charger, to meet the rising global demand for EV charging solutions. 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 in operating EV charging stations and related businesses.

The new acquisition will help LG to become an integrated solutions provider, bringing together its new charger development capabilities and existing in-house-developed EV charging management system. Moreover, the movie is expected to create synergy with LG's ongoing efforts in the area of vehicle components, including the development and supply of EV batteries and adjacent products, such as energy storage systems (ESS) and energy management solutions.

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