The two companies recently signed a partnership agreement to develop commercial charging solutions that will encompass LG’s hardware and ChargePoint’s charger management software, they announced Wednesday. First deliveries are expected to begin later this summer.
For LG, the agreement secures ChargePoint as a key customer, while ChargePoint gains access to LG's high-quality EV chargers as a reliable supply source, they said.
The strategic partnership may target public sector projects by combining LG's U.S.-manufactured chargers, certified for charging stability, with ChargePoint's charge management software, which holds federal security clearance.
In addition, they are expected to cooperate in integrating LG's digital-out-of-home ads platform and ThinQ smart home platform with ChargePoint's offerings to enable advanced advertising and smart home capabilities.
Their cooperation may extend to exploring new business opportunities leveraging LG's established B2B partner networks in hotels, hospitals, and malls across North America.
As environmental regulations tighten and EV adoption soars, the global charging market is projected to reach $186 billion by 2030, growing over 23 percent annually, according to German consulting firm Roland Berger.
The U.S., the world's largest EV charging market, aims to deploy 500,000 stations nationwide by 2030 under its infrastructure expansion initiative.
"Collaborating with ChargePoint, the top North American charge point operator, we will cement our position as a frontrunner in global EV charging solutions," stated Seo Heung-kyu, head of LG's EV charging business.
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