Source: Economic Times, 18 January 2023
India’s largest home appliance maker LG Electronics India has invested Rs 200 crore to manufacture premium side-by-side refrigerators in the country in line with the make in India initiative.
The new line was inaugurated at LG’s Pune plant on Tuesday. It will also make double-door and single-door refrigerators. The unit will have production capacity of over two lakh units.
Hong Ju Jeon, managing director of LG Electronics India said, localization has been a key differentiator as we have continuously developed products based on Indian insights. “Last year we started manufacturing window inverter AC in India at our Noida manufacturing facility, this year we are starting side by side refrigerator production,” he said.
The new investment will help LG to expand its product line up in India and the company will launch 15 new side-by-side refrigerators this summer season. These products are typically priced above Rs one lakh.
LG India vice president Deepak Bansal said LG is already the market leader in side-by-side refrigerators with around 53% share and the new investment will help to further consolidate this. “We would also look at exports of side-by-side refrigerators from India,” he said.
Located at Ranjangaon near Pune, the LG facility is spread over 52.8 acre. The plant also manufactures televisions, washing machines, air-conditioners and monitors.
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