Hyundai Motor-Lotte JiJu-KB Asset Join Hands to Install Urban Electric Vehicle Chargers

[Asia Economy Reporter Hwang Junho] KB Asset Management signed an agreement on the 20th to establish an "Electric Vehicle Ultra-Fast Charging Infrastructure SPC" with Hyundai Motor Group and Lotte Group.

Through this agreement, each company will carry out a project to install 5,000 ultra-fast electric vehicle chargers in urban areas nationwide by 2025. Hyundai Motor Group and Lotte Group will provide sites to install ultra-fast chargers at major business locations such as department stores, large marts, and service centers. KB Asset Management will participate as a financial investor, raising an infrastructure fund to provide financial support.

Lee Hyun-seung, CEO of KB Asset Management, stated, "Starting with electric vehicles, we plan to continuously expand our investment areas to future energy sectors such as electric vehicle charging stations, hydrogen vehicle charging stations, and the hydrogen energy value chain (production, storage, transportation, utilization)."

KB Asset Management has invested 2.2 trillion KRW in renewable energy and domestic environmental facilities. Following the establishment of electric vehicle charging stations, it plans to invest in the hydrogen vehicle sector and expects to surpass 3 trillion KRW in investments within this year.

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