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Updated January 15th, 2024 at 16:41 IST

LG Electronics inaugurates first EV charger facility in Texas

Having ventured into EV charger development in 2018, LG further strengthened its position by acquiring HiEV Charger.

Business Desk
EV charger
EV charger | Image:EV Connect
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LG’s EV charger facility: LG Electronics has inaugurated its first electric vehicle (EV) charger facility outside South Korea, choosing Fort Worth, Texas, to enter North America's competitive EV charging market. Spanning 59,202 square feet, the new EV charging station factory has an annual production capacity exceeding 10,000 chargers, with the initial focus on manufacturing 11-kilowatt EV chargers. LG plans to commence assembly of 175-kilowatt chargers in the first half of this year, followed by 350 kilowatt chargers later in the year.

This move aligns with LG CEO William Cho's reiterated commitment to electrification as a primary driver for mid and long-term growth. With a goal of reaching $79 billion in sales by 2030, up from $51.4 billion in 2022, LG is exploring new business avenues, including EV charging and digital healthcare. Penetrating the U.S. EV market is seen as a crucial step to tap into the growing demand for EV chargers in the region.

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Increasing EV infrastructure

As of December 2023, the US boasted over 165,000 public EV charging ports, with President Biden aiming to increase this number to at least 500,000 by 2030. LG's decision to establish its first EV charger factory in Texas is strategic, leveraging existing facilities and benefiting from the state's robust logistics and transportation networks.

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Having ventured into EV charger development in 2018, LG further strengthened its position by acquiring HiEV Charger (formerly AppleMango), a South Korean EV battery charger manufacturer, in 2022. This move reinforces LG's commitment to the EV charging business and enhances its ability to produce EV chargers domestically. Jang Ik-hwan, the LG Business Solution Company president, underlined that the Texas facility positions LG to actively meet the surging demand for EV infrastructure in the U.S.

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Published January 15th, 2024 at 16:41 IST

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