LG Electronics, ChargePoint partner for EV charging business in U.S.

By Candice Kim Posted : June 19, 2024, 15:55 Updated : June 19, 2024, 16:50
LG Electronics Seo Heung-kyu left Head of EV Charging Business and ChargePoint CEO Rick Wilmer signed an EV charging expansion MOU at ChargePoints California headquarters Courtesy of LG Electronics
In this photo released on June 19, 2024, Seo Heung-kyu (left), LG Electronics' head of EV charging business, and ChargePoint CEO Rick Wilmer pose after signing an agreement for cooperation in EV charging business at ChargePoint's headquarters in Campbell, California. Courtesy of LG Electronics
SEOUL, June 19 (AJU PRESS) - LG Electronics is joining forces with ChargePoint, the leading U.S. electric vehicle (EV) charging network operator, as the Korean company pushes to expand its presence in the world’s largest EV charging market.

The two companies recently signed a partnership agreement to develop commercial charging solutions that will encompass LG’s hardware and ChargePoint’s charger management software, they announced Wednesday. First deliveries are expected to begin later this summer.

For LG, the agreement secures ChargePoint as a key customer, while ChargePoint gains access to LG's high-quality EV chargers as a reliable supply source, they said.
LG Electronics 11kW Level 2 EV charger model EVW011SK is available in the North American market Courtesy of LG Electronics
LG Electronics' 11KW Level 2 EV charger is available in the North American market. Courtesy of LG Electronics

The strategic partnership may target public sector projects by combining LG's U.S.-manufactured chargers, certified for charging stability, with ChargePoint's charge management software, which holds federal security clearance.

In addition, they are expected to cooperate in integrating LG's digital-out-of-home ads platform and ThinQ smart home platform with ChargePoint's offerings to enable advanced advertising and smart home capabilities.

Their cooperation may extend to exploring new business opportunities leveraging LG's established B2B partner networks in hotels, hospitals, and malls across North America.

As environmental regulations tighten and EV adoption soars, the global charging market is projected to reach $186 billion by 2030, growing over 23 percent annually, according to German consulting firm Roland Berger.

The U.S., the world's largest EV charging market, aims to deploy 500,000 stations nationwide by 2030 under its infrastructure expansion initiative.

"Collaborating with ChargePoint, the top North American charge point operator, we will cement our position as a frontrunner in global EV charging solutions," stated Seo Heung-kyu, head of LG's EV charging business.
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