LG Electronics said it had completed its first electric vehicle (EV) charger factory in the US, to help cater for the growing number of EVs in North America.
The 5,500 sq m facility, located in Fort Worth, Texas, was estimated to have annual capacity of 10,000 charging stations per year.
It is LG’s first overseas EV charger production operation and will replace imports from the South Korean majority owned joint venture HiEV Charger which it acquired last year.
LG said it had started assembling 11kW chargers at the new factory and would soon add 175kW fast chargers within the first half of 2024, to be followed by 350kW ultra-fast chargers before the end of the year.
The company said it was “expanding its EV charger lineup to meet the varied needs of customers, especially those operating in areas such as commercial travel and long-distance transportation”.
LG also planned 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 drive future growth”.
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The company said its “experience in the US hotel TV and digital signage sectors will provide valuable insights that that will help it expand its EV charging solutions business”.
Jang Ik-hwan, president of LG Business Solutions, said in a statement: “By establishing our EV charger production factory in Texas, we will be able to actively respond to the rapidly growing demand for EV infrastructure in the US.”
LG is looking to play a significant role in supplying charging equipment for the world’s growing EV population. The company quoted research carried out by German consulting firm Roland Berger predicting the global EV charger market to be worth US$186bn by 2030.