SEOUL, March 9 (Korea Bizwire) — SK Global Chemical Co., a chemical affiliate of South Korea’s energy giant SK Innovation Co., and POSCO, the world’s fifth-largest steelmaker by output, have united forces to develop new lightweight materials for future mobility, including electric vehicles (EVs).
The two parties announced on Monday that they had formed a business agreement to develop lightweight compound materials for automobiles.
The partnership is aimed at preemptively responding to changes in the auto parts market resulting from the expansion of the global EV market.
Under terms of the partnership, the two parties will share production and processing technologies in the areas of plastic and steel materials, while jointly promoting R&D to develop new plastic and steel materials that are lighter but stronger than existing materials used for auto parts.
In particular, they will review the idea of launching research into the development of compound materials that can be used in the production of EV battery packs, plastic materials that can maximize adhesion with steel materials, and auto part materials that have strong resistance to external shocks.
Kevin Lee (email@example.com)