Linconshire, Ill.-based LG Electronics will enter the growing U.S. electric vehicle charger market in 2024 with the introduction of its first line of AC and DC powered 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.
“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,” Min says. “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 EV Level 2 & 3 Chargers
LG states that the U.S. will need hundreds of thousands of additional Level 2 and Level 3 chargers to support the growing number of EVs on the road. The company will thus help individual businesses take part in the market without relying on third-party owner operators. By giving hotels, restaurants, venues, transit hubs, municipal buildings and other locations 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 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 connectors1. The Level 3 model will feature a large outdoor LCD touch-screen display that can serve multiple functions for various owners and use cases.
EV Sales to Growth Trends
Research released earlier this year by Goldman Sachs and IHS Global Insight predicts that EV sales in the U.S. will jump from 9% of total vehicle sales in 2023 to 20% in 2025, “and reaching a stunning 50% of total new vehicle sales by 2030,” Min says. “The need here cannot be overstated, 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 Home Electrification Strategy
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, say 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 take control of their home’s energy usage at their fingertips.
Complementing LG Electronics’ entry into the EV charger market, its sister company LG Energy Solution is the world’s leading producer of EV batteries, investing billions of dollars in U.S. manufacturing, the company remarks.
LG Electronics says it employs a nationwide network of sales, customer support and technical maintenance professionals that will give LG a significant advantage over smaller EV charging firms. It will also provide buyers with peace of mind when investing in their privately-owned charging infrastructure, says the company.
Future Integrations & Additional Revenue Opportunities
Per a statement, 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.
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