LG Chem has formed a partnership with Volkswagen Group to jointly develop next-generation and environmentally friendly materials for future mobility, the company said Monday.
The two companies recently signed a memorandum of understanding at LG Twin Towers in Seoul to work together on weight reduction, performance improvements and the development of next-generation plastic and composite materials based on LG Chem’s acrylonitrile butadiene styrene and engineering plastics.
ABS and engineering plastics are high-performance materials known for their impact resistance, durability and processability. They are widely used in products ranging from home appliances to automotive interior and exterior components.
Under the agreement, the companies will also explore expanding the use of LG Chem’s postconsumer recycled materials and other cost-competitive materials across interior and exterior components for Volkswagen Group’s major brands.
LG Chem and Volkswagen also plan to share technology trends and global market developments in next-generation mobility materials and carry out joint research and feasibility studies on applying specific materials.
Ahead of the signing, Volkswagen Group executives visited LG Chem’s customer solution campus in Osan, Gyeonggi Province, where they attended exhibitions and seminar on PCR-based sustainability, electrification, high-performance and efficient solutions.
The executives also visited LG Sciencepark, the group’s research and development facility, in western Seoul to review LG Group’s R&D capabilities in mobility and other future technologies.
“The agreement marks a meaningful start for a global automaker and a materials company to jointly drive innovation in future mobility materials,” said Kim Sang-min, senior vice president leading LG Chem’s petrochemicals business. “Based on our technological capabilities and competitiveness in high-value and environmentally friendly materials, we will work with our customers to create new milestones for sustainable growth.”
LG Chem has annual ABS production capacity of 2.35 million metric tons across its domestic and overseas operations.
In 2020, the company became the first in the industry to produce white postconsumer recycled ABS and has since expanded its portfolio of recycled materials for automotive interior and exterior applications.
sahn@heraldcorp.com
