EVAR Co., Ltd. (CEO Lee Hun), a company specializing in electric vehicle charging solutions based in Pangyo 2nd Techno Valley, Seongnam-si, Gyeonggi-do, has announced the news of exports to South America, signaling the overseas expansion of the electric vehicle charging infrastructure market. Blink, an electric vehicle charging service company that contracts and supplies 85,000 charging ports around the world and operates charging stations, announced on the 27th that it has signed an MOU on home and public chargers starting in South America by 2024.
Currently, EVAR is operating as the world’s largest smart load-balancing charging infrastructure, and 20,000 units of 7kW smart EV chargers were supplied nationwide. It is equipped with a “Dynamic Load Balancing” function that effectively distributes electricity among multiple chargers within limited power resources and is considered a highly utilized product as it can reduce the facility and operating costs of the charging infrastructure by up to 80%.
“This is our second overseas expansion since June last year when we exported $2.5 million of our mobile charging systems and fixed charging infrastructure to EV Connect Solutions, a subsidiary of Canadian artificial intelligence solution company Datametrex AI,” said Lee Hun, CEO of EVAR. “We will take advantage of this great opportunity to supply charging solutions to major U.S. electric vehicle charging service companies and do our best to develop overseas markets in the future.”
EVAR is growing fast on the global stage. It has received industry attention by winning five innovation awards for two consecutive years since last year at CES, the world’s largest IT fair. In particular, EVAR’s Smart EV Charger won the CES 2022 Innovation Award in the “Smart City” and “Sustainability, Eco Design & Smart Energy” categories, being the first in the industry to win a single product in two categories at the same time. It is also unusual to win five CES Innovation Awards for two consecutive years. EVAR succeeded in securing a Series B funding round worth 22 billion won in July, becoming the first Korean charger manufacturer to attract overseas investment.
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