LG Innotek accelerates bid for global EV market with charging patents

LG Innotek's headquarters in Magok, western Seoul / Courtesy of LG Innotek

LG Innotek has been recognized as a company holding internationally-renowned patents for electric vehicle (EV) charging components, after placing its name on a list of EV tech licensors from the industry’s largest patent pool administrators, the LG affiliate said Sunday.

The company said it has officially secured three international standard patents in the field of electric vehicle charging. According to the Korean firm, Via LA, a U.S.-based firm which licenses patent pools, recently selected LG Innotek as one of eight global companies included in the list along with Bosch and Siemens.

LG Innotek won two EV charging technology patents and one on a charging time reservation technology. The latest achievement is expected to help LG Innotek to win more orders from its global clients, the company said.

The firm is identifying the EV-related business as its next major growth engine. In addition to the wired EV charging business, the LG subsidiary has established itself in the areas of wireless charging, power conversion tech for EVs and external chargers.

The company is also expanding its footing to secure more key tech patents in the autonomous driving area. In April last year, it drew the industry's keen attention after getting over 180 patents from the U.S. autonomous driving startup, Argo AI. They include LiDAR tech, which is considered a key tech for driverless vehicles.

LG Innotek is also tightening its patent management for the future auto industry. The company uses a patent information system powered by artificial intelligence, which it said can analyze patents 900 times faster than humans.

“We will systematically manage and secure intellectual property through patents and continue to create differentiated customer value through research and development,” Kim Jin-hyun, head of the firm’s patents division, said.