LG Electronics announced on June 26 that it will join the electric vehicle charging solution business by jointly acquiring a 100 percent stake in AppleMango Co., a Korean electric vehicle charger company, with GS Energy and GS Neotek.
Hyundai Motor Group also signed a business agreement with Lotte Group and KB Asset Management on April 20 to promote the establishment of a special-purpose company to expand electric vehicle charging infrastructure. Hyundai Motor and Lotte will use provide their nationwide sales branches and distribution facilities for installation of electric vehicle chargers. KB Asset Management will establish an infrastructure fund to support funds for the business.
