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Private Sector | Not Classified - india | PID: 200490
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LG Electronics India has made an investment of about Rs 300 crore on components for air-conditioners, including the manufacturing of compressors, as part of the production-linked incentive (PLI) scheme. LG will be the first brand to manufacture its own compressors in India
LG launched the compressor plant at its Greater Noida manufacturing hub on 27 March, 2023. The plant will make dual inverter compressors, with an annual production capacity of over a million units. It already produces condensers and evaporators as part of the PLI programme
With the compressor plant, the investment of Rs 300 crore has been completed across its component ecosystem. LG will now manufacture for the Indian operations as well as drive exports to other LG units with eventual scaling up of operations. The investment infusion will boost the ‘Make in India’ initiative
Air-conditioners currently account for 20-25 percent of LG India’s revenues, which the company expects to grow further
| Updated on: 29 - Mar - 2023
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