LG Chem and Volkswagen Group Join Forces on Materials Innovation for Lighter, Greener Future Vehicles
TECHWORLD ·
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LG Chem and Volkswagen Group will pursue collaboration on materials development to strengthen competitiveness in future vehicles.
The two companies signed a memorandum of understanding (MOU) on the 28th and agreed to expand the development and application of next-generation, eco-friendly mobility materials.
Areas of cooperation include the use of LG Chem's ABS and EP, as well as reviewing expanded application of recycled materials and cost-competitive materials in interior and exterior parts.
LG Chem and Volkswagen Group will pursue collaboration on materials development to strengthen competitiveness in future vehicles. LG Chem announced on the 28th that it had signed a memorandum of understanding (MOU). The purpose of the agreement is to expand the development and application of next-generation, eco-friendly mobility materials.
Attending the signing were executives from both companies, including Stephan Gramez, vice president and head of the Volkswagen Group's exterior materials purchasing group, and Kim Sang-min, executive vice president and head of LG Chem's petrochemicals business division. Under the MOU, the two companies will pursue joint development based on LG Chem's plastic materials.
Areas of cooperation include the use of LG Chem's ABS and EP. Through this, the two companies will push ahead with vehicle light weighting and performance improvements, while also cooperating on the development of next-generation plastics and composite materials.
ABS and EP are materials with high impact strength, durability and processability. They are used in appliance exteriors as well as in automotive interior and exterior parts.
The two companies will also review expanding the use of LG Chem's recycled (Post-Consumer Recycle) materials and cost-competitive materials in the interior and exterior parts of major finished-vehicle brands under the Volkswagen Group. Through this, they plan to strengthen their competitiveness in sustainable future-vehicle materials.
LG Chem said the agreement was driven by a desire to strengthen competitiveness in future mobility. It said it has been working to broaden the base of the automotive high-value-added and eco-friendly materials market, including ABS and EP, and that the agreement came about because both companies' interests aligned in seeking to establish a sustainable and organic raw-materials supply chain from materials to finished vehicles.
Accordingly, the two companies agreed to share trends in next-generation mobility materials technology and the global market, and to review the feasibility of applying specific materials. They also agreed to actively cooperate on a range of R&D partnerships.
Kim Sang-min, executive vice president and head of LG Chem's petrochemicals business division, said he expects the agreement to serve as a meaningful starting point for a global automaker and a materials company to jointly pursue innovation in future mobility materials. He also expressed his determination to build a milestone for sustainable growth with customers, based on the company's technological capabilities and competitiveness in high-value-added, eco-friendly materials.
Source: TECHWORLD · Lee Kwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=407382
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Source: TECHWORLD
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