South Korean company LG Electronics Inc. has announced its plans to enter the electric vehicle (EV) charger market in the United States. The company is set to launch EV chargers in the first half of next year, introducing two different types of chargers. One charger will have a charging capacity of up to 11 kilowatts (kW) per hour, while the other will support charging up to 175 kW.
The 11kW charger offers the flexibility of being mounted on either a stand or a wall. It features an automatic output control system that adjusts to the power conditions in parking lots, ensuring stable charging services even with limited power capacity. On the other hand, the 175kW charger supports two standards: a combined charging system and a North American charging standard. Users can conveniently monitor the charging status through a touch display that also displays advertisements, potentially generating additional income for LG.
LG Electronics’ move into the US EV charger market comes at a time when the country is actively promoting electric vehicle adoption. The US government plans to have EVs comprise at least 50% of new car sales by 2030 as part of the National Electric Vehicle Infrastructure Formula Program. To support this goal, the government has allocated $5 billion to build 500,000 EV chargers across the nation.
With the expected growth of the US EV charger market to reach $3.2 billion by 2025, LG Electronics aims to provide stable and high-quality chargers to meet the increasing demand. Seo Heung-gyu, managing director of LG Electronics, expressed their commitment to delivering differentiated charging solutions and capitalizing on the electrification trend in the US.
Q: What types of EV chargers will LG Electronics introduce in the US?
A: LG Electronics will introduce an 11kW charger and a 175kW charger in the US market.
Q: Can the 11kW charger be mounted on a wall?
A: Yes, the 11kW charger can be mounted on a wall or a stand.
Q: How will users monitor the charging status on the 175kW charger?
A: Users can conveniently monitor the charging status on a touch display of the charger.
Q: What is the US government’s target for EV sales by 2030?
A: The US government plans for EVs to make up at least 50% of new car sales by 2030.
Q: What is the forecasted size of the US EV charger market by 2025?
A: The US EV charger market is predicted to reach $3.2 billion by 2025 according to consulting firm Roland Berger.