LG Electronics advances into electric vehicle charging business

LG Electronics said on Sunday it has acquired a domestic EV charging maker to advance into the EV charging solutions business amid a global electrification push. LG Electronics recently acquired a 60 percent stake in AppleMango for an unspecified amount, with GS Energy and GS Neotek taking over 34 percent and 6 percent stakes in the company, respectively, to secure a new growth engine, the company said in a statement. LG said it plans to establish an EV charging production line at the LG Digital Park in Pyeongtaek, some 60 km south of Seoul, within this year, reports Yonhap news agency.