In a recent press release, LG announced that it is moving into the EV charging station business with the acquisition of Apple Mango.
Together with GS Energy and GS Neotek, an energy services company and a related IT service provider, LG bought the EV charging station company to basically put together a complete package of services. With LG’s electronics, EV and battery expertise, GS Energy’s energy market and electrical utility experience, and GS Neotek’s IT experience, they’ll be able to work as a “one – stop shop” for people who want to install EV charging stations.
“The EV charging market is expected to grow rapidly due to the emerging demand for more eco-friendly vehicles,” said Paik Ki-mun, senior vice president of LG Electronics Business Solutions Company. Utilizing our knowledge and experience in the B2B sector, we will provide customized, integrated vehicle charging solutions for diverse clients, enhancing the competitiveness of our existing business and ensuring our readiness for future opportunities. ”
What makes AppleMango a particularly good buy, and a great place for four companies to team up, are the innovative stations that AppleMango has put together. If you’ve ever been around EV charging stations, especially those that are not Tesla Superchargers, you’ve probably seen your share of big, thick boxes. Some are more aesthetically pleasing than others, but something about as beautiful as a utility cabinet is common. Apple Mango’s drives tend to be much slimmer and more aesthetically pleasing, while offering a decent customer experience with a large screen and software.
Later this year, LG that they picked up with this purchase will use to launch a new charging station production line at LG Digital Park in South Korea. This will enable the company to create custom charging stations that are optimized for different charging contexts. Homes, apartments, hotels, public institutions, shopping malls, hotels and many other places where EV charging makes sense will be able to get a station built from the ground up for unique needs associated with each location.
What we do not know at this stage is where they intend to sell LG brand charging stations going forward. The South Korean market alone is going to be hot, and nearby countries, such as the most populous country on the planet, will also have a huge demand for charging stations as EV adoption continues. But, if the history is any indication, LG has proven that it is very skilled in selling its products and services worldwide. It seems to me quite likely to see LG / AppleMango chargers in Europe and the Americas.
The other thing we do not yet know is what specifications and power levels will be available at the partnership. It seems obvious that they will work with both Level 2 (220 volts) and Level 3 (DC Fast Charging), but we do not know what kind of speeds they will offer. This will of course vary depending on the charging context they are optimizing for, as someone watching a movie at a movie theater has a few hours to get a charge, while someone driving an electric pickup along the highway is very power required, and fast.
Whatever their offerings are, we will keep an eye out and let readers know as soon as the new products are announced.
Images provided by LG.
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