LG looks India as its manufacturing hub for global markets

- Advertisement -
- Advertisement -

South Korean consumer electronics major LG is expecting India to be one of its global manufacturing hubs to cater to the markets of South Asia, Africa, and the Middle East, a top company official said to Financial Express.

LG, manufacturing, consumer electronics. global markets, manufacturing, India
Image for representational purpose only

Besides, LG Electronics India, which has manufacturing units in Noida and Pune, is also mulling to have a new unit in next 4-5 years to cater to the fast-growing eastern-region market of the country. “We would like to make India as a production hub not only for India but also for the Middle East and Africa markets. If possible, we would also add some South Asian markets also,” LG Electronics India Managing Director Ki Wan Kim told PTI.

He further said: “We are checking the market demands. We are flexible to invest and increase the production capacity to meet that increased market demand besides India and exports as well”.

- Advertisement -

The company will also continue to invest to upgrade its existing manufacturing facilities at Pune and Noida and may also go for a new plant. “Geographically, India is very big. Not now but may be in four or five years, if we need, in the east side, if demand is big enough,” said Kim. However, he also added that although there are “no specific plans but five or six years later, it may be a pillar of investment”.

Financial Express reported that LG India is encouraging its other global units, which are shifting away from China, as it has not remained very cost competitive, to source more from India. “We are internally studying, like once China was our manufacturing hub for the global market, but they are losing competitiveness and so we are shifting to countries mainly to Vietnam. But, I am also inviting them to India (LG Global),” said Kim.

Kim further said: “If there is not availability of the local components, we have invested in that”. For instance, compressor, which is a key component for refrigerator, air conditioner and washing machines, LG is manufacturing at its Noida plant.

“We would be more localised and we are investing to produce the PCB (printed circuit board) here. Normally, we use to import PCB from Korea for compressors,” he said, adding “we are a pure make-in-India company”. LG Electronics India, which had completed 20 years in India in 2017, would continue to offer latest technology to the Indian consumers. “We would keep offering new technologies to the Indian customers for their benefits and enhance their lifestyle,” Kim added.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“Our Goal is to Offer 1000 To 1500 Varieties, With Volumes Ranging From 10000...

0
During a chat with Nitisha Dubey from EFY, Mohammed Iqbal, CEO of Technomake Electronics Pvt Ltd, talks about PCB assembly and major customer focus...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

“More Chargers Provide Security And Confidence To Customers, Encouraging EV Adoption”

0
With an agenda to transform the EV industry, EarthtronEV has established 250+ charging stations on major highways across India. The company aims to interconnect...

Buzz

TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Important Sectors

Microchip Technology Expands TrustFLEX Family With CEC1736 Real-Time Platform Root Of Trust Devices

0
TrustFLEX devices along with the Trust Platform Design Suite tool will simplify the enablement of root of trust from concept to production in wide...
TSMC

SmartSoC To Provide Chip Design Services Through TSMC’s Design Alliance

0
SmartSoC solutions will provide chip design services and system-level solutions, making it easier for customers to adopt TSMC's technology. Chip design services provider SmartSoC Solutions...

India, China Grow Amid First Global Cellular IoT Module Shipments Annual Decline

0
Several companies started local manufacturing in India. 4G Cat 1 bis emerged as the fastest-growing segment. Around 12% of the modules shipped in...

Montra Electric Boosts Amritsar’s Green Mobility with RAAHI Project

0
The initiative is a component of the City Investments to Innovate, Integrate, and Sustain (CITIIS) program, which falls under the auspices of the Ministry...

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

Manufacturing

BYD Delays Vietnam EV Factory Plans

0
Vietnam's government announced in May that BYD plans to construct a facility for manufacturing and assembling electric cars in Phu Tho, a northern Vietnamese...

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...