LG Electronics decides to close down EV charging business

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LG Electronics decides to close down EV charging business

Published: 22 Apr. 2025, 14:12

SHIN MIN-HEE
[email protected]

The LG Electronics headquarters in Yeongdeungpo District, western Seoul, on April 7 [YONHAP]

LG Electronics’ Eco Solution (ES) division is terminating its electric vehicle charging business, the conglomerate announced Tuesday.

The ES division had developed and released slow wire charging and rapid charging products since the business began in 2022. But the company has decided to undergo “strategic rebalancing” due to delayed market growth and intense price-driven competition.

The division members will be reassigned to other divisions within LG Electronics. HiEV Charger, the subsidiary that manufactured the chargers, will soon be liquidated, but all maintenance services for suppliers will still be guaranteed afterward.

The ES Division is set to focus on the heating, ventilating and air conditioning business through products such as household and commercial air conditioners, chillers, heat pumps and data center cooling systems.

BY SHIN MIN-HEE [[email protected]]