SK E&S buys EverCharge to enter US EV charging market
Jeong Min Nam
Mar 25, 2022 (Gmt+09:00)
An electric vehicle is being charged by EverCharge’s charger (Courtesy of SK E&S) South Korea’s SK E&S Co. acquired US electric vehicle charging solution provider EverCharge Inc. to start the business in the world’s third-largest EV market.
SK E&S on Thursday said it was the first South Korean company to take over the management right of a US EV charging company.
The natural gas business unit of SK Group said the company spent a part of $400 million that was injected into its US subsidiary SK E&S Americas earlier this month for the acquisition. SK E&S plans to invest the rest in other energy solution sectors.
“The entry into the US EV charging market is a starting point pf the company’s transformation into a carbon neutral energy optimizer that we have declared,” said SK E&S Vice Chairman and CEO Yu Jeong-joon in a statement.
EverCharge, founded in 2013 in California, manufactures EV chargers and provides solutions for the operations of charging stations. It operates about 4,600 EV chargers in North America with a focus on units installed at parking lots in large buildings.
Write to Jeong Min Nam at peux@hankyung.com Jongwoo Cheon edited this article.