Gu Ja-gyun, Chairman of LS Electric, "LS EM Sol Achieves EV Relay Orders at Around 2 Trillion Won"

Gu Ja-kyun, Chairman of LS Electric, announced on the 7th that the order backlog for EV relays, a core safety component for electric vehicles produced by LS Mobility Solutions (LS EMS), a subsidiary specializing in electric vehicle parts, has reached around 2 trillion KRW.

Koo Ja-kyun, Chairman of LS Electric. / Photo by Dongju Yoon doso7@

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On the same day, Chairman Gu met with reporters at the battery industry exhibition 'InterBattery 2024' held at COEX in Seoul and said, "The EV relays we developed have been adopted by Hyundai Motor and in the U.S., with orders amounting to nearly 2 trillion KRW."

EV relays are power control components used in electric vehicles; they supply or cut off electrical energy from the battery in the powertrain that drives the electric vehicle. LS Mobility Solutions was established in 2022 as a spin-off from LS Electric’s EV relay division to align with the growth trend of the electric vehicle market.

Targeting the North American market, in February this year, the company completed a factory in Durango, Mexico, equipped with production capacity for 5 million EV relays and 4 million Battery Disconnect Units (BDUs).

Chairman Gu said, "I visited LS Mobility Solutions in Durango in January, and production has now stabilized," adding, "Full-scale production is underway, and the roadmap is progressing well for us to supply the Ford company, which we secured orders from, by the end of this year."

Regarding LS Mobility Solutions’ plan for an initial public offering, he expressed a cautious stance, saying, "The priority is to get the company firmly on track and make it successful," and "We will first make the company truly valuable and then consider the IPO issue."

After touring the InterBattery exhibition hall, Chairman Gu commented, "Battery technology has advanced significantly compared to last year," and added, "I also visited the Japan Battery Expo last week, and it seems that our side has developed much more in terms of applications than Japan."

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