LG Chem, South Korea’s leading chemical company, and Volkswagen Group have signed a memorandum of understanding to develop eco-friendly materials for future mobility. The companies will work on next-generation plastics and composites using LG Chem’s acrylonitrile butadiene styrene (ABS) and engineering plastics (EP).
The materials are intended to make vehicles lighter while improving performance. ABS and engineering plastics are high-performance materials already used in appliance exterior parts and in both interior and exterior automotive components.
The memorandum also calls for exploring ways to increase the use of post-consumer recycled (PCR) materials and cost-efficient solutions in the interiors and exteriors of Volkswagen’s major automotive brands. LG Chem said the work would strengthen its position in sustainable materials for future vehicles.
Kim Sang-min, a senior vice president at LG Chem, said the company would work with customers to pursue sustainable growth, drawing on its technology and competitiveness in high-value-added, eco-friendly materials.
LG Chem has annual global ABS production capacity of 2.35 million metric tons. In 2020, it became the first company in the industry to produce white-colored PCR ABS and continues to expand its range of recycled materials for automotive components.