LG Chem, Volkswagen team up on materials for next-generation vehicles
The two companies will jointly develop lighter, high-performance plastics and recycled materials that will improve future transport and mobility.
LG Chem senior vice president Kim Sang-min, left, and Volkswagen Group executive vice president Stefan Gramse pose for a photograph after signing a memorandum of understanding in western Seoul in an undated photo.
LG CHEM
LG Chem and Volkswagen Group have joined forces to develop plastics and composite materials for next-generation vehicles.
A memorandum of understanding to develop and expand the application of environmentally friendly mobility materials was recently signed between LG Chem senior vice president Kim Sang-min and Volkswagen Group executive vice president Stefan Gramse, the Korean company said Monday.
The two companies agreed to work together on materials that can make vehicles lighter and improve performance, as well as next-generation plastics and composite materials — namely LG Chem’s high-value-added synthetic resin (ABS) and engineering plastics (EP).
ABS and EP are high-performance plastics known for their durability and ease of processing. They are widely used for casings for home appliances and vehicle interiors and exteriors.
LG Chem has an annual ABS production capacity of 2.35 million metric tons across its facilities in Korea and overseas.
“LG Chem is seeking to expand the market for high-value-added and environmentally friendly automotive materials, such as ABS and EP, to strengthen its competitiveness in future mobility, while Volkswagen Group is working to build an integrated raw-material supply chain spanning materials to finished vehicles,” an LG Chem representative said. “The interests of the two companies aligned.”
Volkswagen Group will also review expanding the use of LG Chem’s postconsumer recycled materials as well as materials designed to improve cost competitiveness across its major automotive brands.
The two companies will share information on technology trends in next-generation mobility materials and developments in global markets. They will also work together on research and development, including feasibility studies for using specific materials.
“Based on our technological capabilities and competitiveness in the field of high-value-added, environmentally friendly materials, we will work with our customers to set new milestones for sustainable growth,” Kim said. “We expect this to be a meaningful starting point for global automakers and materials companies to jointly drive innovation in future mobility materials.”
BY KO SUK-HYUN [[email protected]]
This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
