New Delhi, Mar 28 (KNN) South Korean electronics company LG inaugurated a compressor plant at their Greater Noida manufacturing facility on Monday.

LG Electronics India has invested nearly Rs 300 crore to procure air-conditioner components, which also includes Rs 100 crore dedicated to compressor manufacturing under the production-linked incentive (PLI) program initiated by the Indian government.

This makes LG the first brand to manufacture its own compressors within the country.

Owing to this investment in the component ecosystem, as compared to only 40-45 per cent a few months ago the company has been able to locally source more than 65 per cent of the components required for producing their air-conditioners in India.

The compressor plant will produce dual inverter compressors and boast a yearly production capacity of over one million units.

Other components, such as condensers and evaporators, are already being produced under the PLI program.  (KNN Bureau)