LG Electronics to exit EV charger business amid global demand slowdown

LG Electronics to exit EV charger business amid global demand slowdown

LG Electronics said Tuesday it will exit the electric vehicle (EV) charger business, citing prolonged global demand stagnation in the EV market. The company's EV charger-manufacturing subsidiary, HiEV...

(Seoul = Yonhap News) Reporter Han Ji-eun = LG Electronics has withdrawn from the electric vehicle charging solution business after three years of entering the business due to the prolonged Chasm (temporary stagnation in demand)...

In a scenario where Donald Trump is not in favour of facilitating the acceleration of electric vehicles in the United States, LG Energy’s president in the country, Bob Lee, claims that abandoning this technology will be a mistake and that the automotive industry in North America will end up losing. Lee believes that Trump should rethink his policies, as leaving the electric vehicle to its fate will be taking a step back in the sector, while the …

[Digital Daily Reporter Bae Tae-yong] LG Electronics, which had been aggressively expanding its electric vehicle charger business, is going through withdrawal procedures after three years. This is a decision that is the complete opposite of its previous decision to actively showcase new products at exhibitions until last year. It is analyzed that a strategic shift was made through business rebalancing as the electric vehicle market entered a cha…

LG to exit EV charger business amid global demand slowdown - tennews.in: National News Portal

Seoul, April 22 (IANS) LG Electronics said on Tuesday it will exit the electric vehicle (EV) charger business, citing prolonged global demand stagnation in the EV market. The company’s EV charger-manufacturing subsidiary, HiEV Charger, will be liquidated, and all employees involved in the business will be reassigned to other divisions within LG Electronics, reports Yonhap […] The post LG to exit EV charger business amid global demand slowdown ap…

LG to exit EV charger business amid global demand slowdown

Seoul, April 22 (SocialNews.XYZ) LG Electronics said on Tuesday it will exit the electric vehicle (EV) charger business, citing prolonged global demand stagnation in the EV market. The company's EV charger-manufacturing subsidiary, HiEV Charger, will be liquidated, and all employees involved in the business will be reassigned to other divisions within LG Electronics, reports Yonhap news agency. The company added that it will continue to provide …