LG invests Rs 300 crore to manufacture AC components in India
By MYBRANDBOOK
LG Electronics India has invested about Rs 300 crore on components for air-conditioners, including Rs 100 crore for manufacturing of compressors, as part of the production linked incentive (PLI) programme of the government. This makes LG the first brand to manufacture its own compressors in India. LG launched the compressor plant at its Greater Noida manufacturing hub where it will make dual inverter compressors.
The new facility was inaugurated in the presence of Government officials, LG Global executives, Manufacturing MD & other senior dignitaries. LG India has always consolidated its market and technological leadership in the market. We were the first brand to convert 100% of the line up from ON/OFF to Dual Inverter in both Split & Window segments and with this new line inauguration LG became the first brand to manufacture its own Dual Inverter Air Conditioner compressor in India.
With an investment of approximately INR 100 crores and an annual production capacity of over 1 MN, the new facility equipped with advanced technologies and machinery, is set to manufacture Dual Inverter Air Conditioner compressors. This milestone will further strengthen the market leadership of LG India in the Air Conditioner industry.
Hyunjin Lee, Manufacturing MD, LG Electronics India said, “We have been continuously serving the Indian market for the past 25 years by providing consumers with the latest products & technologies. We are well aligned with the honorable PM’s vision of MAKE IN INDIA and continuously expanding our local manufacturing. Recently, we started manufacturing Side by Side Refrigerators at our Pune manufacturing facility. Today we are launching a Dual Inverter Air Conditioner compressor manufacturing line at our Greater Noida manufacturing facility. This continuous expansion is a step towards making Self-Reliant India a reality and LG Electronics aims to make India a powerful manufacturing hub. We have invested approximately INR 100 crores in setting up this Air Conditioner Compressor manufacturing line and are continuously working towards strengthening our local operations.”
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