LG Electronics (LG) has broadened its electric vehicle (EV) charging solutions infrastructure by inaugurating its inaugural EV charger production facility in the United States. The new facility, situated in Fort Worth, Texas, covers an area of 5,500 square meters and will concentrate on supplying chargers for the North American market. It is anticipated to have an annual capacity exceeding 10,000 units.
This marks LG’s initial EV charger production site outside South Korea, where its affiliated company HiEV Charger established an EV charger manufacturing operation last year. Texas was chosen for the U.S.-based factory due to strategic reasons, such as the utilization of existing facilities, excellent logistics, transportation networks, and the presence of major operations in various industries.
In 2023, during the announcement of the company’s future vision, LG CEO William Cho emphasized that ‘Electrification’ would be a significant driver of rapid mid- to long-term growth. LG’s foray into the U.S. EV charging market aligns with this vision, addressing local demand and exploring new business opportunities. The company is committed to enhancing its EV charger business in line with U.S. government goals, with plans for global expansion.
Production has commenced in Texas with the assembly of 11kW chargers, and the production of 175kW fast chargers is expected in the first half of the year. LG aims to introduce a 350kW ultra-fast charger in 2024, expanding its EV charger lineup to meet diverse customer needs, especially in commercial travel and long-distance transportation.
LG is gaining recognition as a reliable EV charger provider due to its manufacturing capabilities, quality control, and after-sales service. By highlighting its unique offerings, including control and advertising solutions, LG is confident in improving its market position in the mid- to long-term in the EV charging solutions business.
Moreover, LG plans to cater to the varied EV charging demands of businesses and facilities, including hotels, shopping malls, retail stores, gas stations, and parking garages, to drive future growth. Leveraging its B2B experience in the U.S. hotel TV and digital signage sectors, LG expects valuable insights for the expansion of its EV charging solutions business in the U.S.
The global EV charging market is projected to reach USD 186 billion by 2030, driven by factors like environmental regulations and the continuous progress of vehicle electrification, as reported by Roland Berger, a global management consulting firm.