Printed circuit board (PCB) maker BH said on Monday that it will acquire LG Electronics’ in-car handset wireless charging business unit.
BH will be forming a new subsidiary called BH EVS that will acquire all sales rights from the business unit for 136.7 billion won. The acquisition will be completed in August.
The PCB maker said LG’s business unit has a stable supply line to North America, Europe and Japan.
With the acquisition, BH will immediately become a tier-1 supplier to global automobile original equipment manufacturers (OEM), the company stressed.
BH said demand for in-car handset wireless charging units was around 20 million units per year and the company expects orders worth US$2 billion in the next ten years.
BH CEO Lee Kyung-hwan will be the first CEO of BH EVS __ in which BH will own a 56% stake and DKT, another subsidiary of BH, a 44% stake.
BH had previously focused on supplying flexible PCB for display panels, which it still does for OLED panels used by Apple, but began manufacturing those for automotive infotainment applications in 2018.
Last year, it announced that it will be spending 50 billion won to manufacture flexible PCB for battery cables, which can replace harnesses used to connect battery cells used in automobiles.