LG Invest Rs 100 Cr For Manufacturing Of Dual Inverter AC Compressors In India

New Delhi: South Korean consumer durables maker LG Electronics on Monday said it has started manufacturing Dual Inverter Air Conditioner Compressors at its plant in Greater Noida. LG Electronics India, which is among the leading players in the residential air-conditioning market here, has invested around Rs 100 crore in the new facility in Uttar Pradesh.

The new line has the capacity to roll out one million units per year, the company said. According to the company, it has 'become the first brand to manufacture its own Dual Inverter Air Conditioner compressor in India". (Also Read: Beware! Online Alcohol Orders Can Make You Victim Of Cyber Fraud; Ex-IPS Officer's Daughter Loses Rs 44,000 In Noida)

Hyunjin Lee, Manufacturing MD of LG Electronics India, said this continuous expansion is a step towards making self-reliant India a reality. (Also Read: Samsung To Soon Unveil Tri-Foldable Smartphone: Report)

LG Electronics aims to make India a powerful manufacturing hub. "We have invested approximately Rs 100 crore in setting up this Air Conditioner Compressor manufacturing line and are continuously working towards strengthening our local operations," he added.

In January, LG Electronics India started a new line for manufacturing the premium range of side-by-side refrigerators at Ranjangaon in Pune where it had invested around Rs 200 crore.

LG Electronics India is a wholly-owned subsidiary of South Korea-based LG Electronics. The company, which was established in January 1997 in India, has two manufacturing units at Greater Noida and Pune.

For the financial year that ended March 31, 2022, LG Electronics India's total revenue was at Rs 17,171.3 crore.