LG Chem has signed a business cooperation agreement with Volkswagen Group to develop next-generation and eco-friendly mobility materials.
Key points
•LG Chem and Volkswagen Group Partner on Next-Gen Mobility Materials
•Focus on Lightweighting and Performance Enhancement with ABS and EP
•Expand Use of Recycled and Cost-Effective Materials
The agreement, signed at LG Twin Tower in Yeouido, focuses on developing and applying advanced automotive materials such as ABS (high-value synthetic resins) and EP (engineering plastics), aimed at lightweighting and performance enhancement of vehicles.
Both companies also agreed to expand the use of recycled materials and cost-competitive materials for vehicle interior and exterior parts. The signing ceremony included a special puzzle piece fitting ritual by both CEOs, symbolizing their commitment to joint innovation.
LG Chem boasts an annual production capacity of 2.35 million tons of ABS in both domestic and international markets, with customer-specific high-gloss, heat-resistant, and post-forming ABS products. The company also successfully produced white recycled ABS in 2020, the first in its industry, and continues to expand its portfolio of PCR materials for automotive interior and exterior parts.
