LG Electronics will enter the U.S. electric vehicle charger market in 2024 with its first line of AC and DC EV charging stations. The line will include Level 2 and Level 3 EV chargers, providing new opportunities for businesses, municipalities, and other public places to support the electrification of America with independently owned and operated charging stations.
LG aims to help individual businesses participate in the market without relying on third-party owner-operators. This will allow hotels, restaurants, venues, transit hubs, municipal buildings, and other locations to own and operate their own EV charging stations, setting their own rates and ensuring enough capacity to meet local demands.
The initial product line for the U.S. market will include Level 2 AC Chargers with a load management solution and variable current settings enabling 11kW of output power through a standard SAE J1772 connector. The Level 2 AC Charger will be designed for simple wall mounting with an optional stand that enables placement anywhere. Also planned for next year is LG’s first Level 3 DC Charger, a stand-type model with a connected Power Bank that provides fast charging up to 175kW through CCS1 and NACS connectors. The Level 3 model will feature a large outdoor LCD touch-screen display that can serve multiple functions for various owners and use cases.
The company cited research by Goldman Sachs and IHS Global Insight predicting that EV sales in the United States will increase from 9 percent of total vehicle sales in 2023 to 20 percent in 2025, and reach 50 percent of total new vehicle sales by 2030.
LG’s EV charger launch is part of the company’s broader electrification strategy, which includes a suite of whole home electrification products such as heat-pump-enabled HVAC systems, water heaters and dryers, energy storage systems, and ENERGY STAR® certified smart appliances. LG’s ThinQ Energy platform allows customers to manage their home’s energy usage.
LG Electronics’ entry into the EV charger market is complemented by its sister company LG Energy Solution, a producer of EV batteries. LG Electronics employs a nationwide network of sales, customer support, and technical maintenance professionals.
The new LG chargers will feature LG software to enable integration with other LG infrastructure elements including digital display networks. Some models may offer additional revenue opportunities through included digital displays that can present third-party advertisements.
Source
