LG Electronics announced on Tuesday its departure from the electric vehicle (EV) charging station industry, with its subsidiary HiEV Charger set for liquidation and its staff to be reallocated to other divisions. The company has assured existing customers that it will continue to offer maintenance services. This strategic shift is attributed to the sluggish global demand for EVs, leading LG Electronics to redirect its focus towards the heating, ventilation, and air conditioning (HVAC) sector in pursuit of new growth avenues. Since acquiring HiEV Charger in 2022, LG Electronics has been actively deploying EV charging solutions in the Korean and U.S. markets, encompassing the installation of charging stations and the establishment of production facilities. However, recent market dynamics have necessitated a revision in the company's strategic direction.