Overview

• LG Electronics has announced its withdrawal from the electric vehicle charger market, citing prolonged global demand stagnation.
• The company will liquidate its EV charger-manufacturing subsidiary, HiEV Charger, and reassign all employees to other divisions.
• Despite the exit, LG has committed to providing uninterrupted maintenance services to existing EV charger clients.
• LG began its EV charger venture in 2018, acquired HiEV Charger in 2022, and expanded into the U.S. with a Texas production plant in 2024.
• The decision reflects a strategic pivot as LG reallocates resources to its heating, ventilation, and air conditioning (HVAC) division.