Daewoo E&C Invests in Electric Vehicle Charger Company HumaxEV

[Asia Economy Reporter Yoo In-ho] Daewoo E&C announced on the 28th that it has decided to invest in shares of HumaxEV, a specialized electric vehicle charger company, as part of its new business expansion. The amount Daewoo E&C is investing corresponds to 19.9% of the total shares of HumaxEV.

This investment is part of Daewoo E&C’s ‘BTS (Build Together Startups) Program,’ aiming to promote new businesses through proactive and strategic investments in promising future industries. In August last year, Daewoo E&C established a new business division to promote new ventures and invested in AstroX, a drone manufacturing and software development company, earlier this year.

HumaxEV is a ‘specialized electric vehicle charger manufacturing and charging service company’ recently established by Humax, a gateway company. The Humax Group has selected the mobility business as the group’s future growth engine and is strategically expanding its mobility business by acquiring HI PARKING, the number one parking lot operator in Korea last year, and CARPLAT, a vehicle-sharing platform.

Daewoo E&C plans to leap forward as an ‘energy developer’ through its investment in HumaxEV. The strategy is to enter the electric vehicle charging infrastructure sector, a core part of the smart energy industry, starting with building a charging infrastructure ecosystem, establishing ESS-linked complex charging stations through site construction, and operating V2G bidirectional energy demand management systems, thereby entering the energy-related market in the mid to long term.

First, the two companies will build a charging infrastructure ecosystem by utilizing Daewoo E&C’s apartment brand ‘Prugio’ and HI PARKING, the parking lot operation business of the Humax Group.

Daewoo E&C plans to secure sales through the installation and operation of electric vehicle chargers at key locations, including newly supplied apartments and approximately 100,000 parking spaces operated by HI PARKING, and gradually expand these bases.

Daewoo E&C and HumaxEV are also pursuing overseas expansion to increase sales. They plan to promote overseas sales by utilizing Humax’s local production facilities in three countries and a global sales network spanning over 20 countries.

Additionally, the two companies plan to collaborate on expanding electric vehicle charging infrastructure for the Vietnam Star Lake City project promoted by Daewoo E&C.

A Daewoo E&C official stated, “We will secure stable demand through Daewoo E&C’s Prugio, which supplies 20,000 to 30,000 households annually, and then pursue diversification of our business portfolio. We will secure new growth engines that allow the company to continuously grow through investments in the 4th industrial revolution sectors linked to existing construction businesses, such as the electric vehicle charging infrastructure business.”

This content was produced with the assistance of AI translation services.