Looking to capitalize on the growing demand for electric vehicles (EVs) in North America, Korean technology giant LG Electronics has entered the U.S. EV charger market with the introduction of its first line of AC and DC EV charging stations.
The stations will include Level 2 and Level 3 EV chargers that are designed to be included into existing infrastructures like businesses, municipalities and other public areas.
There is a growing need for more public chargers as more EVs are increasingly being pushed by automotive OEMs that are looking to transition to fully electrified fleets in the next 10 to 15 years. Many companies, including LG, believe that if there are not enough chargers at key locations, it will hinder growth of EV adoption.
Equipping hotels, restaurants, venues, transit hubs, municipal buildings and other locations with EV charging stations is a good way to allow individual businesses to operate their own EV charging stations, which will likely increase the capacity in North America, the Korean company said.
Initial stations
The product line for the U.S. market will have a variable current setting that allows for 11 kW of output power through a standard SAE J1772 connector. The Level 2 AC charger will be designed for wall mounting with an optional stand. This is likely more geared for home use.
In 2024, LG said it will roll out its Level 3 DC charger as a stand-alone model with a connected power bank that provides fast charging up to 175 kW through either a combined charging system (CCS) or North American charging standard (NACS), also known as Tesla Supercharger network, connector. The Level 3 model will also feature outdoor LCD touch screens for retail use cases, LG said. This is likely targeted for business and hospitality industries.
Sales accelerating
LG pointed to Goldman Sachs research that suggested EV sales are forecasted to jump from just 9% this year to 20% in 2025. But EV sales will jump even higher by 2030, reaching 50% of all new vehicle sales in the U.S.
"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,” said Nicolas Min, senior VP of LG Business Solutions in the U.S. “By providing more options, LG will increase competition and innovation in the market to the benefit of drivers, businesses and society at large."
