Service Center Established in Luton, UK
Shin Jeong-ho: "Will Contribute to Achieving Net Zero"
[Asia Economy Reporter Choi Seoyoon] SK Group's electric vehicle charger manufacturing and sales affiliate SK Signet has secured its first order in Europe.
SK Signet announced on the 20th that it began local sales by signing its first order contract worth 10 billion KRW in the UK last December through 'SK Signet Europe,' established to enter the European market. Earlier, SK Signet announced that it established its European branch, 'SK Signet Europe,' in Frankfurt, Germany, at CES 2023 earlier this year.
SK Signet also established a service center in the Luton area of the UK. Since Europe requires detailed customer responses due to varying national situations and regulations, SK Signet plans to strengthen its market competitiveness in Europe based on its extensive experience and competitive advantage secured in the US market. SK Inc., which holds a 53.4% stake as the largest shareholder in SK Signet, is the number one player in the US ultra-fast electric vehicle charging market.
SK Signet is focusing on finding business partners in five major countries, including Germany, the largest automobile market in Europe, as well as the UK, Italy, France, and Spain.
The EU set a goal in its 2020 'Sustainable Smart Mobility Strategy' to install more than 3 million electric vehicle chargers across Europe by 2030. Last year, it enacted the 'Fit for 55' legislative package aimed at reducing the EU's average carbon emissions to 55% of 1990 levels by 2030. Additionally, the European Parliament, with approval from EU member states, passed a carbon emission regulation agreement on the 14th (local time), banning the sale of internal combustion engine vehicles within the European Union starting in 2035. This legislation is expected to resolve uncertainties in the European automotive industry and accelerate the spread of electric vehicles and growth of the charger market.
Along with passing the carbon emission regulation law, the European Parliament also unveiled regulations on carbon emissions for large commercial vehicles such as trucks and coaches. The law mandates a 90% reduction in carbon emissions from large commercial vehicles by 2040 compared to 2019 levels. This has increased the need to develop megawatt (MW)-level commercial vehicle charging technology, the Megawatt Charging System (MCS). SK Signet plans to launch the Megawatt Charging System (MCS) in the first half of next year.
Shin Jeong-ho, CEO of SK Signet, said, “We will contribute to building electric vehicle infrastructure in Europe, advancing the electric vehicle era, and achieving global net zero.”
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