LG Chem partners with Volkswagen to develop eco-friendly mobility materials

SEOUL, Sept. 28 (Yonhap) -- LG Chem Ltd., South Korea's leading chemical company, said Monday it has partnered with Volkswagen Group to jointly develop next-generation, eco-friendly mobility materials.

The two companies have signed a memorandum of understanding (MOU) to collaborate on developing next-generation plastics and composite materials aimed at reducing vehicle weight and improving performance, using LG Chem's acrylonitrile butadiene styrene (ABS) and engineering plastics (EP), the company said in a press release.

ABS and EP are high-performance plastics widely used in the exterior components of home appliances and in automotive interior and exterior parts.

"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," LG Chem Senior Vice President Kim Sang-min said.

Under the MOU, LG Chem said it will also strengthen its competitiveness in sustainable materials for future vehicles by exploring ways to expand the use of its post-consumer recycled (PCR) materials and cost-efficient material solutions in the interior and exterior components of Volkswagen's major automotive brands.

LG Chem has an annual ABS production capacity of 2.35 million metric tons worldwide. In 2020, it became the first company in the industry to produce white-colored PCR ABS and continues to expand its portfolio of PCR materials for automotive components.