LG Electronics has plans to enter the U.S. electric vehicle charger market in 2024 with its first line of AC and DC powered EV charging stations. LG Business Solutions USA’s Senior Vice President Nicolas Min says the line will include Level 2 and Level 3 EV chargers.
“As a leader in the electrification movement, LG is committed to delivering systems and solutions to help U.S. commercial customers develop the infrastructure to charge electric vehicles, which is critical to the success of the industry and the nation’s clean energy goals,” says Min. “Our product roadmap supports various use cases to provide a flexible, adaptable family of EV chargers to keep America moving as electric vehicles continue to grow in popularity and capabilities.”
LG believes its new products will help businesses take part in the growing market without having to rely on third-party owner operators. This includes hotels, restaurants, venues, transit hubs, municipal buildings, and other locations, which will have the opportunity to own and operate their own EV charging stations. LG will empower them to set their own rates and ensure enough capacity to meet local demands.
LG’s 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 touch LCD that can serve multiple functions for various owners and use cases.
According to research by Goldman Sachs and IHS Global Insight, cited by LG, EV sales in the U.S. are predicted to jump from 9% of total vehicle sales in 2023 to 20% in 2025, and reach 50% of total new vehicle sales by 2030.
“The need here cannot be overstated,” says Min, “and everyone has a role to play from drivers and energy producers to local governments and businesses of every size. By providing more options, LG will increase competition and innovation in the market to the benefit of drivers, businesses and society at large.”
LG’s EV charger launch supports the company’s broader electrification strategy, which empowers customers to convert buildings to more sustainable energy usage, saving money and protecting the environment in the process, says the company.
LG’s suite of whole home electrification products includes heat-pump-enabled HVAC systems, water heaters and dryers, energy storage systems, and Energy Star-certified smart appliances, including induction ranges and cooktops. To further aid in energy and cost savings, LG’s ThinQ Energy platform allows customers to manage their home’s energy usage.
Complementing LG Electronics’ entry into the EV charger market, its sister company LG Energy Solution produces EV batteries, investing billions of dollars in U.S. manufacturing.
The new LG chargers coming next year 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.