The North American unit of South Korea-based LG Electronics has revealed that it is finalizing its plans to open its first heat pump factory in the United States. The CEO of LG Electronics North America, Thomas Yoon, disclosed the company’s intentions this week during a White House executive roundtable on heat pump production and deployment, according to the company's LinkedIn account. The factory will reportedly manufacture indoor, 100% electrical units, with plans to produce outdoor heat pumps at some point in the future.
“The market transformation enabled by heat pump technologies will be accelerated by delivering on the long-awaited promise of the smart home, coupled with today’s emphasis on a zero-carbon lifestyle,” Yoon told White House officials, including US Energy Secretary Jennifer Granholm.
Yoon reportedly praised the US government’s investments for driving demand through tax incentives and rebates such as the Inflation Reduction Act (IRA). However, he noted that market uptake is still limited by a lack of awareness of the benefits of heat pump technology.
“From our perspective, the bigger issue is not supply but demand. We applaud the government’s major investments in driving demand through tax incentives and rebates,” Cooling Post cited Yoon as saying. “However, lack of awareness and familiarity about the benefits of heat pump technology is a barrier to market adoption.”
“The market transformation enabled by heat pump technologies will be accelerated by delivering on the long-awaited promise of the smart home, coupled with today’s emphasis on a zero-carbon lifestyle,” LG Electronics North America CEO Thomas Yoon told White House officials today. pic.twitter.com/XR99mHvt0h
— LG HVAC USA (@LGHVACUSA) April 4, 2023
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