[Article] Humax, a ripening mobility ecosystem

Daewoo Engineering & Construction Co., Ltd. to invest in Humax EV Co., Ltd.Expansion of charging business for parking-based electric vehicles such as occupancy and parking

Global gateway company ‘Humax’ is preparing a mobility ecosystem as it is attracting investments from charging businesses for electric vehicles. It has secured a parking lot, which is a key foundation of its mobility business, focusing on high-parking. It is also creating added value by expanding its value chain to charging businesses for electric vehicles, car-sharing and platforms. Analysts say that the company has recently collaborated with Daewoo Engineering and Construction to prepare a growth engine for its electric vehicle charging business.

Humax has attracted equity investment in its subsidiary Humax EV from Daewoo Engineering & Construction. As part of the “Build Together Startup (B.T.S) Program,” Daewoo E&C is pushing for new projects through preemptive and strategic investments in promising sectors. Humax EV will be the second investment destination, while Daewoo Engineering & Construction will secure a 19.9 percent stake.

Humax EV is a company that specializes in manufacturing and charging electric vehicle chargers. It provides energy solutions ranging from production and installation of electric vehicle chargers to operating platforms and ESS production and sales. Last month, it entered the charging market for electric vehicles in earnest by acquiring PSN, a manufacturer of chargers.

Humax has secured major bases for installing and operating electric vehicle chargers through collaboration with Daewoo Engineering & Construction. Daewoo E&C is securing stable demand through its newly supplied apartment ‘Prugio’. With 20,000 to 30,000 new households expected to be supplied every year, the company is expected to achieve steady growth.

Along with Humax EV, Charzin(EVZ) is also one of the pillars of charging services for electric vehicles. It is characterized by providing charging infrastructure solutions and operating platforms centered on electric vehicle users. By establishing an integrated control system such as analysis of charging information by location and time, it has capability to solve problems in real time. Along with Humax EV, which is in charge of developing charging facilities and parking lots, it is upgrading its electric vehicle charging business.

Hi-parking, which operates a total of 300 parking lots and 100,000 parking lots, is the core of the mobility value chain. Based on this, it has secured parking spaces that can implement mobility business in various parts of the country and is creating various added value including charging services for electric vehicles. The fact that Humax EV was able to attract investment from Daewoo E&C in recognition of its growth potential also plays a major role in the high-parking that provides synergy.

Value chain through parking lot covers car-sharing company Kaplatt and People Car, Humax Parks, a company specializing in parking control systems, and Rocket Runch, an information-sharing platform. It is closely linked to mobility business, creating synergy and creating added value at the same time.

Hi-parking has been growing steeply lately. It recorded 81.5 billion won in sales and 6.8 billion won in operating profit last year. Sales more than tripled in just three years from 25 billion won in 2016 and continued to grow in the first quarter of this year, recording positive results. Its operating profit ratio also doubled from 4.40 percent, showing high profitability.

Meanwhile, Humax EV, along with Daewoo Engineering & Construction, will also push for overseas expansion to expand sales. It will push for overseas sales using local production facilities in three foreign countries and global sales networks in more than 20 countries. In addition, the two companies plan to cooperate in expanding the charging infrastructure for electric vehicles in Vietnam’s Star Lake City project, which is being promoted by Daewoo Engineering & Construction

Source: Kyung-sub Lim, (www.thebell.co.kr)

Original source: https://www.thebell.co.kr/free/Content/ArticleView.asp?key=202007291448288000101152

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