Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP NEWS) = LG Electronics has decided to end its EV charger business under its ES division.

This is interpreted as a strategic rebalancing measure in response to changes in the business environment, such as delayed market growth and intensified price-centered competition, although LG Electronics has been developing and releasing products such as slow and fast chargers since starting its EV charger business in 2022.

All members who have been performing related work are planned to be transferred to other business organizations within LG Electronics.

HiEV Charger, a subsidiary responsible for manufacturing EV chargers, will go through liquidation procedures and plans to continue to provide maintenance services to suppliers without interruption after the business is terminated.

The ES division plans to focus on the HVAC(heating, ventilation and air conditioning) business, including ▲home and commercial air conditioners ▲chillers ▲heat pumps ▲data center cooling solutions, through a future selection and concentration strategy.

By Soon-ki Lee(s8789@nspna.com) and Bok-hyun Lee(bhlee2016@nspna.com)

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