SK Signet to produce ultrafast EV chargers in US

South Korean manufacturer of electric vehicle chargers SK Signet said Wednesday it will start producing ultrafast 350-kilowatt electric vehicle chargers in the US from the second quarter of 2023.

The plan comes after the company, an affiliate of the nation's second-largest conglomerate SK Group, revealed in October it was investing $15 million to acquire a new manufacturing facility in Plano, Texas.

The plant, located on a 495,867-square-meter site, can produce 10,000 EV chargers with capacities higher than 350 kilowatts -- the first of its kind in the US.

SK Signet acquired the manufacturing facility from US defense firm Raytheon Technologies. A few minor renovations will allow the EV charger maker to begin test productions early next year, according to company officials.

Plano was chosen as it is close to the US headquarters of major carmakers, including Toyota, General Motors and ABB, while also being the home to major production and distribution facilities, the company added.

SK Signet said the US’ initiatives to bolster EV policies, such as its National Electric Vehicle Infrastructure Formula Program, will act as a pushing force for the company to keep its lead in the global EV charger market.

“A convenient charging experience is essential to spread EVs by lowering barriers for consumers to purchasing and using battery-powered vehicles," said Shin Jung-ho, chief executive officer at SK Signet. "Our Texas plant will usher in the era of clean mobility in the US to achieve net zero by providing leading-edge products and innovative charging solutions."

Meanwhile, the company said it will work with the local community to create quality jobs.

“We are very excited to welcome SK Signet manufacturing facility to Plano,” said Plano Mayor John Muns. “The company’s innovative technology fits perfectly with our business environment and community. We are proud to continue attracting world-class companies such as SK Signet to our city that would positively impact the local economy.”