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Home > Industry News

LG Electronics launches U.S. charging pile plant with 10,000 annual capacity

Views : 53
Update time : 2024-01-22 10:10:38
        LG Electronics announced on January 14 that it has launched a U.S. electric vehicle charging station plant, officially entering the North American market. The electric vehicle charging equipment business is one of the brand-new fields that LG Electronics is pursuing to increase the proportion of B2B (business-to-business transactions).
 
 
        LG Electronics said on January 14 that it had started operation of a charging pile manufacturing plant in Fort Worth, Texas, with a total area of 5,500 square meters, which can produce more than 10,000 charging piles per year. The plant will first produce 11kW slow-speed charging piles, with plans to produce fast charging piles (175kW) and ultra-fast charging piles (350kW) within the year.
        The U.S. government's Inflation Reduction Act plans to increase the proportion of local manufacturing in the U.S. It plans to increase annual production of EV charging piles from 102,000 from 2022 to 500,000 by 2030, and more than 55% of the components will be made in the U.S. Companies such as LG Electronics and SK Signet have set up factories in the U.S., and they are eligible for subsidies.
         LG New Energy, a subsidiary of LG Group, is also aggressively expanding its business in North America, and is accelerating its energy storage system (ESS) business, following the success of its electric vehicle battery production. LG Energy Solution Vertech, LG New Energy's energy storage solutions company, posted sales of 1.097 trillion won in the January to March quarter of 2023, up 289 percent year-on-year, in addition to the company's turnaround to a profit, realizing a net profit of 81 billion won in the third quarter of 2023, according to data disclosed by South Korea's financial regulator.
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