LG launches its first US EV charging factory in Texas

LG Electronics has inaugurated its inaugural electric vehicle (EV) charger facility outside of South Korea, situating it in Fort Worth, Texas, to carve a niche in North America’s competitive EV charging market. Spanning 59,202 square feet, the new EV charging station factory has the capacity to produce over 10,000 chargers annually, with current production focused on 11-kilowatt EV chargers. In the first half of this year, LG plans to commence assembly of chargers with a capacity of 175 kilowatts, followed by 350 kilowatts later in the year.

This strategic move aligns with LG CEO William Cho’s reiterated commitment to ‘electrification’ as a primary driver for mid and long-term growth. Seeking new business opportunities beyond its traditional areas, LG aims to achieve $79 billion in sales by 2030, up from $51.4 billion in 2022, with a focus on EV charging and digital healthcare. Penetrating the U.S. EV market is seen as a pivotal step, allowing LG to explore fresh business prospects and meet the growing demand for EV chargers in the U.S.

As of December 2023, the U.S. already boasted over 165,000 public EV charging ports, and President Biden aims to build at least 500,000 public chargers by 2030. Jand Ik-hwan, the president of LG Business Solution Company, emphasized that establishing the EV charger production factory in Texas positions LG to actively respond to the surging demand for EV infrastructure in the U.S.

LG’s choice of Texas for its first EV charger factory is based on strategic considerations, leveraging existing facilities and benefiting from robust logistics and transportation networks in the state. Having ventured into EV charger development in 2018, LG further strengthened its position in the EV charging business by acquiring HiEV Charger, formerly known as AppleMango, a South Korean EV battery charger maker, in 2022.