People view the LG e-Centric EV charging station at CES 2024 in Las Vegas. (AP)
LG Electronics on Friday opened its first factory within the U.S. for assembling electric-vehicle charging stations because the South Korean electronics giant looks to capture a share within the fast-growing market dominated by ChargePoint and Tesla.
Based in Fort Price, Texas, the corporate’s 100,000 square feet latest factory has an annual capability of 12,000 units, LG said in an announcement.
The corporate already has a distribution center in town.
LG, a high-end TV manufacturer, has been attempting to diversify its business into fresh sectors like EV charging and digital healthcare.
It acquired South Korean EV charger provider AppleMango in 2022 as a part of its foray into the sector.
The corporate is entering a highly competitive charging market, dominated by firms like ChargePoint Holdings and Elon Musk-led Tesla, as federal funding and government incentives have helped to expand the EV charging network in the USA.
The number of accessible charging ports within the U.S. nearly doubled from late 2019 to the primary quarter of 2023, in response to the Office of the U.S. Energy Efficiency & Renewable Energy.
The ability will initially assemble Level-2 smaller portable wall chargers and produce Level-3 touch-screen display models later within the 12 months.
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