The company was chosen by a standard patent licensing company, Via LA, specialised in EV charging as a licensor. A licensor refers to a person or a company that gives permission to another entity to use the patented technology and receives royalties in return. Via LA has so far only registered eight companies worldwide, including GE, Bosch, Siemens, and LG Innotek, as licensors in the EV charging sector.
The International standard essential patents LG Innotek was recognised for are charging control technologies (two patents) based on battery status data and a charging reservation technology (one patent). The registration has accelerated LG Innotek's push to fully engage in the global EV component market.
LG Innotek is already fostering the future car business as a new growth driver for the company. The company is ramping up its R&D efforts to support control solutions of not only wired charging but also wireless charging, and to implement power conversion solutions for both parts of EVs and outdoor charging systems.
"It's crucial that we secure the proprietary technology to become the top player in the industry, so we need to systematically manage and secure the intellectual property like patents,” said Kim Jin-hyun, the head of the intellectual property division at LG Innotek.