LG Chem and Volkswagen Group have signed a memorandum of understanding to develop and expand next-generation, environmentally friendly mobility materials. Their cooperation will focus on lightweighting and performance improvements using LG Chem’s high-value-added synthetic resin ABS and engineering plastics, or EP, as well as next-generation plastics and composite materials. Volkswagen Group will also review broader use of LG Chem’s postconsumer recycled materials and products designed to improve cost competitiveness across its major automotive brands. The companies will share technology and global market information and conduct research and feasibility studies for specific applications. LG Chem has annual ABS production capacity of 2.35 million metric tons across facilities in Korea and overseas.