LG Chem is collaborating with the Volkswagen Group to enhance the competitiveness of future vehicles through material development.
On September 28, LG Chem announced that it has signed a memorandum of understanding (MOU) with Volkswagen Group at the LG Twin Towers in Yeouido to expand the development and application of next-generation, eco-friendly mobility materials.
Under this agreement, the two companies will work together to utilize LG Chem's ABS (acrylonitrile butadiene styrene) and EP (engineering plastics) to promote lightweighting, performance enhancement, and the development of next-generation plastics and composite materials for automobiles. ABS and EP are high-performance plastics known for their excellent impact strength, durability, and processability, widely used in the exterior materials of home appliances and automotive interiors and exteriors.
Additionally, LG Chem plans to explore the application of its recycled materials and cost-competitive materials in the interior and exterior components of Volkswagen's major vehicle brands, aiming to strengthen the competitiveness of sustainable materials for future vehicles.
This partnership aligns with LG Chem's goal to expand the market for high-value, eco-friendly automotive materials, such as ABS and EP, and Volkswagen's interest in establishing a sustainable supply chain for raw materials from materials to finished vehicles.
The two companies will also actively collaborate on various research and development efforts, sharing trends in next-generation mobility materials and global market dynamics, as well as conducting feasibility studies on the application of specific materials.
Volkswagen Group executives participated in a tour of exhibition booths and seminar sessions at the Osan Customer Solution (CS) Campus, showcasing solutions based on PCR (post-consumer recycled) materials, electrification, high functionality, and cost competitiveness. They also visited LG Science Park in Magok to discuss ways to expand cooperation by examining LG Group's future growth technologies and research and development capabilities in the mobility sector.
Kim Sang-min, Executive Vice President of LG Chem's Petrochemical Business Division, stated, "I expect this to be a meaningful starting point for global automakers and material companies to innovate future mobility materials together. Based on our technological capabilities and competitiveness in high-value, eco-friendly materials, we will create milestones for sustainable growth with our customers."
* This article has been translated by AI.
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