South Korean media: BYD delivers the "final blow", LG exits the electric vehicle charging station business! On May 14, South Korean media "Today Finance" published an article stating that after three years of entering the electric vehicle charging solution business, LG Electronics has decided to withdraw. BYD of China launched the "Super e-Platform" which enables a driving range of 470 kilometers with just 5 minutes of charging. The "BYD impact" showcasing overwhelming advantages in both technology and price competitiveness is interpreted as the decisive "last strike" for the exit of this project. LG Electronics announced that due to intensified competition centered on price, it has decided to terminate the electric vehicle charging station business under the ES Business Division. The subsidiary responsible for manufacturing electric vehicle chargers, HiEV Charger, will proceed with liquidation procedures, and all personnel involved in executing related operations will be redeployed to other business organizations within LG Electronics. LG Electronics began developing solutions in advance in 2018 and acquired the electric vehicle charging station specialist company HiEV Charger (formerly Apple Mango) in 2022, entering the electric vehicle charging market. LG Electronics CEO Cho Jo-wan stated at the 2023 press conference that the electric vehicle charging station business is one of the new growth drivers to achieve the vision of 100 trillion won in sales by 2030, and expressed intentions to rapidly grow it into a trillion-won business. However, due to China's "technological rise," South Korean conglomerates are unable to find new growth engines and find themselves in a state of indecision. [Image: //p9-sign.toutiaoimg.com/tos-cn-i-ezhpy3drpa/4abacada7fa1404592df533cfe6ccfc6~tplv-obj:1920:1080.image?_iz=97245&bid=15&from=post&gid=1832099615213568&lk3s=06827d14&x-expires=1754956800&x-signature=XNVieV4aN9iXQSatMGHL%2FqFnDcU%3D] Original source: https://www.toutiao.com/article/1832099615213568/ Disclaimer: This article solely represents the views of the author.