LS

Photograph 1. Employees producing ESS components at a Korean plant of LS EV Korea. 


■? LS Cable & System fosters its EV and ESS component subsidiary as a new growth engine

■? Supplying products to LG Chem, Volkswagen, Volvo and BYD, and has 3 years’ worth of quantities 

■? Korean, Chinese and European production bases are benefiting from the growth of the EV market


LS EV Korea (CEO Noh Jae-Hoon) announced on February 18 that the company would submit the registration statement to the Financial Services Commission and be listed on the KOSDAQ at the end of March.

LS EV Korea supplies wiring harnesses for electric vehicles, battery pack components, and ESS components to global automakers such as Volkswagen, Volvo and BYD, and LG Chem. They are core components that supply power to electric vehicles or operate and control sensors.

The number of shares to be offered will be 15 million with a price ranging between KRW 5,500 and KRW 6,100. The total offering amount is expected to reach KRW 82.5 billion ~ KRW 91.5 billion. Demand will be forecast on March 11~12, and general subscription will be received on March 18~19.

The company said it was planning to increase investments in equipment and technology with the money raised through the public offering and strive to grow into a global electric vehicle component specialist in earnest.

LS EV Korea was established in November 2017 as a result of a spinoff of the electric vehicle component division of LS C&S, which founded the company as a new growth engine. In 2018, sales amounted to KRW 218 billion, and the company has been growing so fast that it has already accumulated three years’ worth of supplies.

"Around 2030, the demand for electric vehicles is expected to exceed those of internal combustion engine vehicles,” said CEO Noh Jae-hoon. “LS EV Korea has production bases in key electric vehicle markets, namely Korea, China and Europe, and is quickly responding to the needs of global customers. It will benefit directly from the growth of the overall market.”

600V or higher voltage electricity, at least 50 times higher than ordinary vehicles, flows in electric vehicles. LS C&S applied the high-voltage power technology to its existing automotive electric wire manufacturing technology in 2007, developed harnesses for electric vehicles, and has been expanding related businesses.


Photograph 2. Employees producing harnesses for EVs at the Chinese plant of LS EV Korea.