LVMCHoldings, Establishes Smart Mobility Infrastructure with Laos Power Company

[Asia Economy Reporter Jang Hyowon] LVMC Holdings and the Electricite du Laos (EDL) announced on the 15th that they have signed a Memorandum of Understanding (MOU) to establish a joint venture for the nationwide expansion of electric vehicle charging stations, large commercial facility construction, smart parking lot projects, and smart mobility infrastructure development.

The signing ceremony was attended by key government officials including Chanthabuon Soukaloun, President of Electricite du Laos, Vilaphorn Visounnarath, Vice President, ministers and vice ministers from the Ministry of Energy and Mines, and the Ministry of Finance, as well as major executives from the companies such as O Se-young, Chairman of the Korao Group, and Nouxay Vensavanh, CEO of KDC.

President Chanthabuon Soukaloun of Laos Power Company, Chairman O Se-young of Korao Group, and CEO Nouxay Vensavanh of KDC are signing a business agreement and taking a commemorative photo. / Photo by LVMCHoldings

Amid the Lao government's strategy to transition to electric vehicles (EVs) starting in 2025, Electricite du Laos and LVMC Holdings share the vision of developing charging solutions to build an EV ecosystem. They plan to establish a joint venture to lead the establishment of key charging station environments and promote EV adoption throughout Laos.

As the first task of this collaboration, Electricite du Laos and LVMC Holdings plan to establish 20 EV charging stations in key urban areas nationwide by utilizing their business sites. Electricite du Laos will invest in stable power supply, transmission, and distribution facilities, while LVMC Holdings will invest in hardware (HW) such as electric vehicles, batteries, and fast chargers, as well as related software (SW) solutions and the construction of commercial facilities around the charging stations.

The EV charging stations will operate lounges, creating complex cultural spaces equipped with convenience facilities where drivers can relax and enjoy culture while charging their vehicles. LVMC Holdings will also provide engineering services at key charging stations by utilizing its nationwide after-sales (AS) network.

A company representative stated, “In addition to achieving carbon neutrality as part of ESG management, we plan to create various partnership services to enhance customer convenience. Through this collaboration, the company aims to actively support government policies on ‘EV adoption, EV ecosystem, and infrastructure expansion,’ and expects to contribute to greenhouse gas reduction for carbon neutrality, job creation, and improving the convenience of citizens' lives.”

Electricite du Laos (EDL), cooperating with LVMC Holdings, is a state-owned power company under the Ministry of Energy that owns and operates power generation, transmission, and distribution. It currently supplies electricity to 95% of households nationwide and manages the country's power imports and exports. Laos is a country rich in electric energy to the extent of exporting power, making it an ideal environment for expanding electric vehicle charging infrastructure.