SEOUL, December 19 (AJP) - EV charger maker SK Signet said on Friday its board had approved a third-party share sale worth about 30 billion won, with parent company SK Inc. set to participate in the offering.
The company said the proceeds will be used to expand production infrastructure to support global growth and to strengthen product competitiveness.
SK Signet plans to gradually increase capacity and improve operating efficiency centered on its production base in Texas, while accelerating research and development to broaden its lineup of high-power, ultra-fast chargers.
The company also aims to secure key raw materials in advance and reinforce its global supply chain, it said.
SK Signet said participation in the U.S. government’s National Electric Vehicle Infrastructure (NEVI) program is expected to lift revenue in the coming years.
In 2023, the company established a local manufacturing plant in Plano, Texas, and secured key permits, laying the groundwork for entry into the NEVI market.
Through exclusive supply contracts with U.S. charging point operators including Francis Energy and Gilbarco, SK Signet said it is currently the only South Korean manufacturer participating in the NEVI program.
Looking beyond North America, SK Signet said it plans to gradually expand its business footprint into Europe, South America and Oceania.
CEO Cho Hyung-ki said in a press release that the company will leverage favorable market momentum, including the resumption of the NEVI program, to further strengthen its technology and quality competitiveness, while positioning itself as a leading global provider of end-to-end EV charging solutions.
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