Texas Production Factory to Solidify Company’s Position
as a Trusted EV Charging Solutions Provider
SEOUL, Jan. 15, 2024 — LG Electronics (LG) has expanded its electric vehicle (EV) charging solutions infrastructure, opening its first EV charger production factory in the U.S. The new, 5,500-square-meter facility, located in Fort Worth, Texas, will focus on delivering chargers for the North American market and is expected to have an yearly topics of increasingly than 10,000 units.
The factory is LG’s first EV charger production site outside of South Korea, where the visitor last year opened an EV charger manufacturing operation under its united visitor HiEV Charger.
LG chose to establish its U.S.-based EV charger production factory in Texas for multiple, strategic reasons, such as the worthiness to utilize existing facilities. The state moreover boasts spanking-new logistics and transportation networks and is home to major operations for companies in industries ranging from automobile manufacturing to finance.
In 2023, when announcing the company’s future vision, LG CEO William Cho noted that ‘Electrification’ would be a major suburbanite of rapid mid- to long-term growth. LG’s entry into the U.S. EV charging market will enable the visitor to write rising local demand and discover new merchantry opportunities. Strategically and philosophically aligned with several of the energy and environmental goals set out in the U.S. government’s Inflation Reduction Act, the sustainability-focused visitor is single-minded to bolstering its EV charger business, and has commenced plans to grow its presence virtually the world, including in Asia and Europe.
LG has started assembling 11kW chargers at its Texas factory and will uncork production of 175kW fast chargers within the first half of the year. LG moreover aims to introduce a 350kW ultra-fast charger in 2024, expanding its EV charger lineup to meet the varied needs of customers, expressly those operating in areas such as commercial travel and long-distance transportation.
The visitor is quickly earning a reputation as a reliable EV charger provider thanks to its manufacturing capabilities, quality tenancy and after-sales service. Through emphasizing its differentiated offerings, including tenancy and razzmatazz solutions, LG is confident that the EV charging solutions merchantry will protract to modernize its market position over the mid- to long-term.
Furthermore, LG intends to tap into the diverse EV charging demands of various businesses and facilities, such as hotels, shopping malls, retail stores, gas stations and parking garages, to momentum future growth. LG’s B2B wits in the U.S. hotel TV and digital signage sectors provides valuable insight that is expected to aid in the U.S. expansion of the company’s EV charging solutions business.
The global EV charging market is expected to grow to USD 186 billion by 2030, equal to Roland Berger, a global management consulting firm. The market expansion is stuff driven by several factors, including the ongoing implementation of regulations aimed at protecting the environment and the continuous progress of vehicle electrification.
“By establishing our EV charger production factory in Texas, we will be worldly-wise to urgently respond to the rapidly growing demand for EV infrastructure in the U.S.,” said Jang Ik-hwan, president of the LG Merchantry Solutions Company. “LG is defended to delivering uncompromising quality and will offer customers reliable EV charging solutions that combine efficient charger units with wide tenancy systems.”
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