LG Electronics has opened its first EV charger manufacturing manufacturing unit within the U.S. The brand new, 5,500-square-meter facility, situated in Fort Price, Texas, will concentrate on delivering chargers for the North American market and is anticipated to have an annual capability of greater than 10,000 models.
The manufacturing unit is LG’s first EV charger manufacturing web site outdoors of South Korea, the place the corporate final yr opened an EV charger manufacturing operation beneath its affiliated firm HiEV Charger.
LG selected to determine its U.S.-based EV charger manufacturing manufacturing unit in Texas for a number of, strategic causes, comparable to the flexibility to make the most of current amenities. The state additionally boasts wonderful logistics and transportation networks and is house to main operations for corporations in industries starting from vehicle manufacturing to finance.
In 2023, when asserting the corporate’s future imaginative and prescient, LG CEO William Cho famous that ‘Electrification’ can be a significant driver of speedy mid- to long-term development. LG’s entry into the U.S. EV charging market will allow the corporate to deal with rising native demand and uncover new enterprise alternatives. Strategically and philosophically aligned with a number of of the power and environmental targets set out within the U.S. authorities’s Inflation Discount Act, the sustainability-focused firm is dedicated to bolstering its EV charger enterprise, and has commenced plans to develop its presence world wide, together with in Asia and Europe.
LG has began assembling 11kW chargers at its Texas manufacturing unit and can start manufacturing of 175kW quick chargers inside the first half of the yr. LG additionally goals to introduce a 350kW ultra-fast charger in 2024, increasing its EV charger lineup to fulfill the numerous wants of shoppers, particularly these working in areas comparable to business journey and long-distance transportation.
The corporate is shortly incomes a status as a dependable EV charger supplier due to its manufacturing capabilities, high quality management and after-sales service. Via emphasizing its differentiated choices, together with management and promoting options, LG is assured that the EV charging options enterprise will proceed to enhance its market place over the mid- to long-term.
Moreover, LG intends to faucet into the varied EV charging calls for of assorted companies and amenities, comparable to resorts, procuring malls, retail shops, fuel stations and parking garages, to drive future development. LG’s B2B expertise within the U.S. lodge TV and digital signage sectors supplies useful perception that’s anticipated to help within the U.S. enlargement of the corporate’s EV charging options enterprise.
The worldwide EV charging market is anticipated to develop to USD 186 billion by 2030, in line with Roland Berger, a worldwide administration consulting agency. The market enlargement is being pushed by a number of elements, together with the continued implementation of laws aimed toward defending the atmosphere and the continual progress of car electrification.
“By establishing our EV charger manufacturing manufacturing unit in Texas, we can actively reply to the quickly rising demand for EV infrastructure within the U.S.,” stated Jang Ik-hwan, president of the LG Enterprise Options Firm. “LG is devoted to delivering uncompromising high quality and can supply clients dependable EV charging options that mix environment friendly charger models with superior management methods.”
Jan 15, 2024