LG Electronics to Enhance Commercial AC Production and Services in India
India: LG Electronics is intensifying its focus on the Indian commercial air-conditioner market by establishing a new company dedicated to their service and maintenance. James Lee, head of LG’s air solution business unit, stated that LG has started producing compressors for commercial ACs in India, achieving 50% localization with plans to increase this level. This initiative aligns with the Indian government's push for local manufacturing. LG envisions supplying Indian-made commercial ACs to markets like the US and Africa. The company aims to lead in electrification, servitization, and digitalization using advanced inverter and heat pump technologies. LG competes in India's commercial AC market, which is projected to grow from 530 million USD in 2022 to 1.16 billion USD by 2028, against brands like Blue Star, Voltas, Daikin, and Lloyd. LG has also established six HVAC training academies across India to support workforce development.
Source: MSN