SK E&S Enters US Electric Vehicle Charging Business... Acquires 'EverCharge'

Acquisition of Electric Vehicle Charging Company Manufacturing and Operating Chargers
Vice Chairman Yujeongjun: "Will Lead Power Solutions in the North American Market"

[Asia Economy Reporter Oh Hyung-gil] SK E&S is entering the U.S. electric vehicle charging market.

On the 24th, SK E&S announced that it had acquired EverCharge, a leading U.S. electric vehicle charging company. This is the first time a Korean company has acquired management rights of a U.S. electric vehicle charging company.

On the 8th, SK E&S revealed plans to invest $400 million (approximately 480 billion KRW) in SK E&S Americas for its U.S. energy solutions business. SK E&S plans to use this for the acquisition of EverCharge and additional investments in the energy solutions sector.

Founded in 2013 in California, U.S., EverCharge is a charging solution company capable of manufacturing electric vehicle chargers and operating charging stations. Currently, it has installed and operates about 4,600 electric vehicle chargers across North America, including the U.S. and Canada.

The chargers manufactured and sold by EverCharge were the first in the industry to obtain the electric vehicle charger type certification (CTEP) required by the California state government. Using new network technology that can be used over a wider range than existing Wi-Fi, they can operate stably even in places with poor communication conditions such as underground parking lots.

In particular, EverCharge is highly rated for its power management capabilities. Compared to other companies, EverCharge can install and operate up to about five times more chargers. Previously, chargers were installed considering the maximum output of a single charger, which limited the number of installations due to power supply restrictions.

Through this acquisition, SK E&S plans to effectively respond to the expansion of the U.S. electric vehicle charging market and further leap to become a global top-tier energy solutions company by linking with its existing businesses.

Last year, SK E&S acquired the U.S. grid solutions company 'KCE' and invested in the energy solutions company 'Rev Renewables.' SK E&S plans to provide integrated energy solution services linking grid, distributed resources, and mobility sectors within the U.S.

Yoo Jung-joon, Vice Chairman of SK E&S, said, "Entering the U.S. electric vehicle charging market is the starting point for SK E&S's transition to a carbon-neutral energy company." He added, "By leveraging the energy solutions business capabilities and the synergy in the electric vehicle sector possessed by our member companies, we will become a leading power solutions company in the North American market within a few years."

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