LG Electronics to roll out EV chargers in Texas

Jang Ik-hwan, head of the BS Division at LG Electronics, right, and Mayor of Fort Worth Mattie Parker. [Courtesy of LG Electronics]

LG Electronics Inc. will build an electric vehicle (EV) charger production facility in Texas, the United States, in a move to expand its presence in the North American EV market.

The announcement was made during the Consumer Electronics Show 2024 in Las Vegas on Friday, where LG Electronics revealed its plan to build a charging station hub in the city of Fort Worth, Texas.

The EV charger factory, covering an area of 5,500 square meters, aims to produce over 10,000 units annually. This marks the South Korean company’s first venture in establishing an overseas production facility for EV chargers.

In Korea, its subsidiary, HiEV Charger, has started producing EV chargers at its Pyeongtaek plant in Gyeonggi Province.

An LG Electronics spokesperson highlighted the strategic selection of Texas, emphasizing considerations such as logistics efficiency and the utilization of existing facilities to achieve synergy effects.

The company expressed its intention to continuously expand its presence in the global market for EV chargers, targeting regions in Asia and Europe.

In the U.S., LG Electronics plans to broaden its product range from 11kW regular chargers to 175kW fast chargers and 350 kW ultra-fast chargers. A significant focus will be placed on expanding the portfolio of fast chargers suitable for commercial and long-distance travel, with a goal to establish a strong presence in the North American market.

While the short-term focus is on charger sales, LG Electronics has articulated a long-term strategy to position itself as a solution provider in areas such as control systems and advertising.

“Our advantages in quality assurance and reliability will enable rapid business growth through B2B transactions. By establishing the Texas EV charger production hub, we aim to meet the growing demand for EV infrastructure in the U.S.,” said Jang Ik-hwan, head of the BS Division at LG Electronics. “We will showcase optimal charging solutions that combine stable quality-based chargers with advanced control solutions.”

LG Electronics is also open to possibilities in mergers and acquisitions (M&A) within the EV charger business.

“While it’s challenging to specify potential M&A targets, they are likely to be in the B2B or new business sectors,” said LG Electronics CEO Cho Joo-wan during a CES press conference.