Alexander Lewis 
Jan 15, 2024
LG, a leading multinational electronics manufacturer, has opened its first production base, outside South Korea, for electric vehicle (EV) chargers in Fort Worth, Texas.
According to an official statement released by the company on Monday, the new EV charger facility, built on 59,202 square feet of area, will produce over 10,000 chargers every year.
having started producing 11-kilowatt EV chargers in Texas, the company plans to start assembling 175-kilowatt chargers by mid-2024 and 350-kilowatt ones by the end of this year.
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The inauguration of the new EV charging station aligns with William Chom's, LG CEO, remarks he made last year, iterating the company's ambitions for electrification as a core source of mid and long-term growth.
The company has been seeking new business opportunities in the realm of EV charging and digital healthcare to attain its mark of $79 billion in sales by 2030, up from $51.4 billion in 2022.
LG says it aims to cater to the increasing demand for EV chargers in the US while also capturing some share from it.
With US President Joe Biden willing to get at least 500,000 public chargers built by 2030, the country currently has over 165,000 EV chargers.
“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 U.S.,” said Jand Ik-hwan, the LG Business Solution Company president.
While reflecting on its decision to establish an EV charger facility in Texas, LG said the state has offered existing production bases with the utilisation of logistics and transportation services for the purpose.
To further foster the competitive landscape of EV charger production, the company acquired a South Korean EV battery charger maker named HiEV Charger, formerly known as AppleMango, in 2022.
