LS Electric’s expertise in cables for electric power supply and E1’s distribution network will provide the synergy needed for the Electric Vehicle charging business.
May 2, 2022
South Korea-based LS Electric Co., Ltd. has added a subsidiary for the new electric vehicle (EV) charging business. The company announced that the newly-established LS E-Link unit was jointly formed by the LS Group, and E1, a Liquefied Petroleum Gas (LPG) importer.
As per a Korean leading daily, the expertise of LS Electric in cables for electric power supply and the distribution network of E1 will bring the ideal synergy needed for the new business. Moreover, the LS Cable and System manufacturing unit was the first company in South Korea to mass-produce aluminum wires used for electric vehicles.
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The official of LS Group stated, “As EV transition accelerates, power usage will grow in EV charging stations, which means that power engineering will become more important for stable and efficient power supply.”
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As per news reports – the LS E-Link is planning to commence its business in South Korea in the second half of this year. Moreover, E1 has already 350 pre-established EV charging stations in South Korea. Owing to the pre-established stations, it will not be difficult for the new business unit to set up new charging stations in strategic locations.
