Volvo Construction Equipment and Posco signed a memorandum of understanding Friday at Volvo’s plant in Changwon, South Gyeongsang Province, to work together on developing core materials and technologies for construction machinery in pursuit of carbon neutrality.
Kang Ho-jin, vice president of the R&D section at Volvo CE, and Lee Kyu-young, head of the steel solution research center were among key executives in attendance.
The two companies plan to exchange insights on technologies and materials to address electrification and carbon neutrality, and pursue joint research and development of next generation materials for construction machinery.
They will also carry out equipment testing and technology verification for the jointly developed materials, and hold technical seminars and expand technical exchanges.
A key area of cooperation is weight reduction technology using high-strength steel, as well as welding and manufacturing technologies required for the production of construction machinery.
Volvo CE will lead the overall development of construction machinery and material applications, while Posco will support the R&D process by developing high-performance materials and manufacturing methods. Through close collaboration, they will secure a suply chain from raw materials to final assembly, boosting operational efficiency of Volvo’s next-generation machinery.
“Regarding next generation construction machinery development, connection between material technologies and manufacturing technologies are a core competitive aspect,” said Kang.
“By applying the technologies developed with Posco, we will enhance both durability and performance and secure a competitive product lineup.”
stlee0329@heraldcorp.com
