LS Group Launches Full-Scale Entry into Electric Vehicle Charging Business

[Asia Economy Reporter Jin-ho Kim] LS Group is making a full-scale entry into the electric vehicle business.

On the 28th, LS Group announced that it will establish a new corporation, LS E-Link, through joint investment with E1 to develop the 'EV charging infrastructure construction and operation business.'

LS E-Link is a company established as a subsidiary of LS, with LS and E1 each contributing 50:50. LS plans to use LS E-Link as a control tower to consolidate the group's business capabilities in the electric vehicle charging sector and create synergy.

LS E-Link plans to start full-scale operations in the second half of the year, based on the know-how of the nation's number one power solutions and gas charging station operations.

In particular, LS expects synergy as it possesses the nation's top technology in the electric and power fields through LS Cable & System and LS Electric. LS Cable & System is mass-producing electric vehicle wires that can be used at 800V high voltage for the first time in Korea. It also produces high-voltage harnesses (wiring that delivers electric signals to each component of an electric vehicle) and battery packs for electric vehicles. LS Electric holds stable smart power facility technology in the distribution sector, and E1 has know-how in operating about 350 charging stations nationwide.

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