LG Chem will work with Volkswagen Group to develop and expand the application of next-generation, eco-friendly mobility materials. Executives from both companies attended the signing ceremony, including Stefan Gramse, Executive Vice President and Head of the Exterior Materials Procurement Group at the Volkswagen Group, and Kim Sangmin, Senior Vice President and Head of LG Chem’s Petrochemicals Company.
The agreement sees both companies collaborating on the development of next-generation plastics and composite materials, as well as reducing vehicle weight and improving performance, using LG Chem’s ABS (high-value-added synthetic resin) and EP (engineering plastics). Both are high-performance plastics with enhanced impact strength, durability, and processability, and are used in the exterior components of home appliances as well as automotive interior and exterior parts.
LG Chem has a total annual ABS production capacity of 2.35 million metric tons domestically and internationally, and maintains a portfolio of ABS products, including high-gloss, high-heat-resistant, and paintless varieties. These can be applied to customer-specific applications like side mirrors and radiator grilles.
The two companies agreed to collaborate on various research and development initiatives, including feasibility studies for the application of specific materials. Additionally, the duo will share information on technology trends and global market developments related to next-generation mobility materials.
“We expect this to be a meaningful starting point for global automakers and materials companies to jointly drive innovation in future mobility materials,” said Kim Sangmin, Senior Vice President and Head of LG Chem’s Petrochemicals Company. “Based on our technological capabilities and competitiveness in the field of high-value-added, eco-friendly materials, we will work with our customers to set new milestones for sustainable growth.”
