[Report] "Is the Problem the Price?"... A Close Look at LG Electronics EV Chargers

LG Electronics Booth Set Up at 'EV Trend Korea' on the 6th
First Full Lineup of EV Chargers Unveiled
Exhibition Space Designed with Various Concepts for Homes, Commercial Spaces, and Charging Stations
Visitors at the Site Continue to Ask About Prices

"(EV charger) It seems like there is no price competitiveness. What do you think?"

On the 6th, an employee from a client company visiting the LG Electronics booth set up within 'EV Trend Korea' asked a sharp question. At this place where LG Electronics exhibited its entire EV charger lineup for the first time, employees wearing name tags from domestic and international companies kept coming and going.

LG Electronics participated in EV Trend Korea for the first time, held for three days starting from this day at COEX in Samseong-dong, Seoul. This was to increase contact points with client companies under the ambition of LG Electronics President Jo Joo-wan to grow the EV charging business to the trillion-won scale.

Photo by Han Yeju

On-site, 7kW slow chargers and 100kW and 200kW fast chargers were arranged to fit various concepts such as residential, commercial spaces, and charging stations.

In the area designed for residential use, the 7kW slow charger was exhibited alongside a BMW vehicle. This product, available in wall-mounted and stand types for customized installation, features a touchscreen to enhance convenience. In the space designed as a commercial parking lot, a 100kW fast charger capable of charging two vehicles simultaneously was on display. At the charging station area, LG Electronics showcased a 200kW fast charger in collaboration with GS Caltex, allowing visitors to imagine the future-style charging station.

LG Electronics chargers were smaller in size and thinner than electric vehicle chargers displayed at other company booths. It was evident that design was carefully considered, taking into account installation in spaces such as home parking lots. The 100kW and 200kW fast chargers also featured a 24-inch display to enhance convenience. The advantage lies in the ability to check power consumption and charging status in real-time on the large screen.

Durability was also excellent. An LG Electronics official explained, "All products can charge stably even in temperatures as low as minus 25 degrees Celsius and as high as 40 degrees Celsius." They also obtained IP65 waterproof and dustproof ratings and IK10 impact resistance certification.

Photo by Han Yeju

However, a disappointing point was that there was no opportunity to see the products in use, such as through direct demonstrations. Although a BMW vehicle and a BMW-exclusive EV charger were exhibited within the booth, visitors could not see the charger connected to the vehicle and charging in action. Considering that at a nearby booth close to LG Electronics, an unmanned robot demonstrated plugging and unplugging charging cables into cars, which received much positive response from many visitors, this was a greater disappointment.

Starting with this exhibition, LG Electronics plans to provide customized space solutions optimized for various B2B customer needs by combining signage, robots, and more. As it was identified as a new growth engine earlier this year, investments related to the EV charging business are expected to continue.

Photo by Han Yeju

As mentioned by on-site customers, price competitiveness appears to be an element that must be overcome. Although prices vary depending on the client and quantity, according to the industry, the current price of an LG Electronics 7kW wall-mounted EV charger is 650,000 KRW, the stand type is in the 1.5 million KRW range, and a 100kW charger costs about 30 million KRW. The 200kW charger is expected to exceed 50 million KRW.

Meanwhile, EV Trend Korea, now in its 7th year, is hosted by the Ministry of Environment and jointly organized by COEX and the Korea Battery Industry Association. A total of 86 companies participated in this exhibition, including ▲Hyundai Motor Company ▲Kia, as well as ▲LG Electronics ▲LG Uplus ▲ModernTech ▲EL Electric ▲Chaebi ▲EVsys, among others.