LG Electronics is entering the U.S. electric vehicle charger market in 2024 by introducing its first line of AC and DC EV charging stations.
According to LG Business Solutions USA's Senior Vice President Nicolas Min, the line will include Level 2 and Level 3 EV chargers, opening new opportunities for businesses, municipalities and other public places to support the electrification of America with independently owned and operated charging stations.
LG Accelerates EV Charging Revolution
LG is aware of the increasing demand for Level 2 and Level 3 chargers in the U.S. to accommodate the rising number of EVs on the roads.
The company aims to assist individual businesses in entering the market independently, without relying on third-party operators.
LG is offering hotels, restaurants, venues, transit hubs, municipal buildings, and other locations the chance to own and operate their own EV charging stations.
This empowerment allows them to establish their pricing structures and ensure sufficient capacity to meet local demands.
LG's Advanced EV Chargers
LG's initial product lineup for the U.S. market will include Level 2 AC Chargers equipped with load management solutions and variable current settings, providing 11kW output power through a standard SAE J1772 connector.
The Level 2 AC Charger is designed for easy wall mounting, with an optional stand for versatile placement.
Additionally, LG plans to introduce its first Level 3 DC Charger next year, featuring a stand-type model with a connected Power Bank for fast charging up to 175kW through CCS1 and NACS connectors. The Level 3 model will include a large outdoor LCD touch-screen display serving multiple functions for various owners and use cases.
EV Charging Stations Redefined for U.S. Market
Goldman Sachs and IHS Global Insight's research earlier this year predicts a significant increase in EV sales in the United States, reaching 20% of total vehicle sales in 2025 and 50% by 2030.
LG's entry into the EV charger market aligns with its broader electrification strategy, empowering customers to transition buildings to more sustainable energy usage.
In addition to LG Electronics' foray into the EV charger market, its sister company, LG Energy Solution is investing billions in U.S. battery manufacturing.