LS launches EV charging biz unit

South Korean electric cable manufacturer LS Group has launched a subsidiary to run electric vehicle charging business, officials said Thursday.

The new unit, LS E-Link, was jointly established by LS, the holding company, and E1, an LPG importer unit under the group.

“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,” said an LS Group official.

LS‘ strength in cables for electric power supply and E1’s energy distribution networks are expected to create synergy for the new EV charging business, he added.

For instance, LS Cable & System, the cable manufacturing unit of LS Group, was the first in the country to mass-produce aluminum wires for EVs that are coated with advanced insulation material that can cope with up to 800 volts, allowing rapid charging of EVs.

The company also supplies electric car harnesses, battery packs and energy storage system parts to global automakers, such as BYD, Volkswagen and Volvo, and tech firms including LG Chem.

LS Electric encompasses a stable smart electric power facility technology and E1 has the know-how in managing charging stations as it operates more than 350 LPG stations nationwide.

The newly launched subsidiary will be led by Kim Dae-geun, who previously managed E1‘s regional businesses in Gangwon Province and Seoul.

By Hong Yoo (yoohong@heraldcorp.com)