SK Inc., the strategic investment arm of South Korea’s SK Group, has relaunched the former Signet EV business under a new name, SK Signet Inc., as the company prepares for global expansion of its electric vehicle chargers.
SK Inc. acquired Signet EV, also based in South Korea, in April 2021. The company makes a full line of EV charging units that can be used with everything from electric buses to passenger cars. Signet EV and now SK Signet have placed a special emphasis on fast and ultra-fast EV chargers.
The name change to SK Signet comes as the company and industry enter a new era of transportation. SK Signet plans to ramp up production and roll-out of its EV chargers globally to provide the infrastructure required to make EVs a reality for markets around the world. The ultimate goal is to help transition consumers to more environmentally friendly forms of transportation.
According to McKinsey, cars and trucks produce one-fifth of greenhouse gas emissions in the U.S. And, despite the sale of EV’s growing nearly 40% year-over-year, consumers cite battery charging issues as a major deterrent for making the switch from a gas engine.
“Consumers in the U.S. and around the world are showing increasing interest in electric vehicles as a way to cut carbon emissions, but they have questions about how and where they can charge the vehicles,” said Jung Ho Shin, CEO of SK Signet. “SK Signet is committed to helping make the switch to EVs an easier decision by providing equipment that provides a fast, simple way to recharge electric vehicles of all sizes.”
SK Signet has more than 20,000 chargers worldwide, including 4,000 EV chargers in the U.S. The company, which has U.S. offices in Tysons, Virginia, anticipates significant expansion of its chargers in the U.S. to support efforts to build out a more robust EV charging network.
Along with its expansion plans, SK Signet will continue advancing its EV charger technology with investments in R&D that help reduce charging times and stay at the forefront of charging high-capacity EV batteries. SK Signet also will keep its commitment to providing a world-class customer experience through support for EV charging hardware, software and services.
“Our customers and business partners will remain our top priority as we work together to accelerate the adoption of EVs and help the transportation industry do its part in addressing global climate change,” Shin said.
SK Signet is part of a broader effort by SK Inc. and the entire SK Group family of companies to invest in businesses that reduce global greenhouse gas emissions. Across its companies, SK Group, South Korea’s second-largest conglomerate, has pledged to cut 200 million tons of carbon emissions by 2030.
In addition to SK Signet, SK Inc. has invested in range of businesses designed to have a positive impact on the environment, including Nebraska-based hydrogen producer Monolith Materials, California waste-to-fuels company Fulcrum BioEnergy and food alternative companies, Perfect Day in California and Nature’s Fynd in Illinois.
About SK Signet
SK Signet is global leader in smart, convenient charging solutions for all types of electric vehicles. The company holds 13 patents global in EV charger technology. SK Signet is majority owned by SK Inc., the strategic investment arm of SK Group. Based in Seoul, SK Group is South Korea’s second-largest conglomerate with companies that are global leaders in semiconductors, energy and life sciences. For more information, visit sksignet.com and sk.com.