LG Electronics opened its first U.S. EV charger production factory in Fort Worth, TX, a 5,500-square-meter facility set to produce more than 10,000 charging units annually, primarily for the North American market. This is LG's first EV charger production site outside South Korea, reflecting a growing commitment to the EV infrastructure in the U.S.
The decision to establish the factory in Texas was influenced by several factors, including the use of existing facilities, the state's logistics and transportation networks, and its position as a hub for various industries.
LG CEO William Cho highlighted in 2023 the role of electrification as a key driver for the company's mid- to long-term growth, aligning with the energy and environmental goals of the U.S. government's Inflation Reduction Act.
Currently, LG's Texas factory has commenced assembling 11kW chargers and plans to start producing 175kW fast chargers in the first half of the year. By 2024, the company aims to introduce a 350kW ultra-fast charger, diversifying its offerings to cater to different customer needs, including those in commercial travel and long-distance transportation sectors.
LG's approach in the EV charger market is marked by its manufacturing prowess, stringent quality control and comprehensive after-sales service. The company also emphasized its unique offerings, like control and advertising solutions, to solidify its market position. The focus extends to tapping into the varied EV charging demands of businesses and facilities such as hotels, shopping malls, retail stores, gas stations and parking garages.
This expansion aligns with the global EV charging market's projected growth, expected to reach $186 billion by 2030, driven by environmental regulations and advancements in vehicle electrification.
