Published 13 Apr.2022 10:37(KST)
Updated 14 Mar.2023 12:51(KST)
[Asia Economy Reporter Park Hyungsoo] LG HelloVision's stock price soared to the upper price limit. The news that LG Electronics, LG Energy Solution, LG Innotek, and other affiliates within the group are joining forces as the company pushes forward with its new electric vehicle charging business appears to have influenced the stock price. DisplayTech, known as an electric vehicle charging-related stock, is also showing strong gains.
At 10:35 a.m. on the 13th, LG HelloVision was trading at 6,720 won, up 29.98% from the previous day.
On the same day, a media outlet reported that LG Electronics has designated the electric vehicle charging business as its next growth engine. LG Electronics is conducting research and development (R&D) on electric vehicle charging software, mechanical design, and platforms. It is known that the BS Business Division, which handles business-to-business (B2B) operations, is currently recruiting experienced personnel in various fields related to the electric vehicle charging business.
Since the end of 2018, LG Electronics has established the A&B (Automotive & Business Solutions) Center under the CTO and has been conducting advanced development in the mobility convergence service sector. In 2020, GS Caltex piloted the supply of an integrated management solution for electric vehicle charging stations at a future-oriented gas station in Seocho-gu, Seoul. LG Electronics appears to have confirmed the growth potential of the charging business and is planning to transfer it to the BS Business Division to actively promote the business. There are also expectations that collaboration with group affiliates such as LG Energy Solution, which produces electric vehicle batteries, and LG Innotek, which supplies automotive parts and substrates, will create synergy effects.
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