
LG Electronics has opened its first electric vehicle (EV) charging facility outside South Korea in Fort Worth, Texas, as it seeks to capture share of North America’s fiercely competitive EV charging market.
LG said in the company’s statement on Monday that its new electric vehicle charging station factory occupies 59,202 square feet and can produce more than 10,000 chargers per year. LG has begun production of an 11-kilowatt electric vehicle charger in Texas. Assembly of 175-kilowatt chargers will begin in the first half of this year, and assembly of 350-degree chargers will begin later this year.
Prior to this, LG CEO William Cho reiterated the company’s commitment last year to “electrification” as the main driver of mid- to long-term growth. The Korean electronics company has been looking for new business opportunities in various fields Such as electric vehicle charging and digital health Sales will reach $79 billion by 2030, up from $51.4 billion in 2022. LG said its entry into the U.S. electric vehicle market will allow the company to explore new business opportunities and capitalize on growing demand for electric vehicle chargers in the U.S.
The United States has more than 165,000 public electric vehicle charging ports As of December 2023; US President Biden aims to create At least 500,000 public charging piles by 2030.
“By establishing an electric vehicle charger production plant in Texas, we will be able to actively respond to the rapidly growing demand for electric vehicle infrastructure in the United States,” said Jand Ik-hwan, president of LG Business Solutions.
LG said it decided to build its first electric vehicle charger factory in Texas for some strategic reasons. LG said the state offers the benefit of leveraging existing facilities as well as logistics and transport networks.
The company has been developing electric vehicle chargers in 2018, Acquisition of HiEV Charger (formerly AppleMango)A Korean electric vehicle battery charger manufacturer plans to strengthen its electric vehicle charging business and produce electric vehicle chargers in South Korea in 2022.
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