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Recently, the China Association of Automobile Manufacturers, Guolian Automotive Power Lithium Battery Research Institute Co., Ltd., and LG Chemical of South Korea signed a memorandum of understanding in Beijing to jointly promote the development of power lithium battery technology, cooperate in the research of new generation power lithium battery technology, and actively promote the industrialization of research and development results.

Dong Yang, Executive Vice President of the China Association of Automobile Manufacturers, stated that new energy vehicles are in a rapid development stage, and international cooperation is of great significance in promoting the development and application of new technologies. At present, China's market share of new energy vehicles ranks first in the world, with great development potential. This is not only an opportunity for China's new energy vehicles, but also a common opportunity for industries around the world. We sincerely promote cooperation with the automotive industry of various countries around the world. He pointed out that South Korea is in a leading position in the field of power lithium batteries, and LG Chemical has a good chemical foundation and industrialization ability. He hopes that LG Chemical will actively participate in the development of China's power lithium-ion battery technology and industry, taking the signing of a memorandum of understanding as an opportunity to further strengthen cooperation between China and South Korea in the fields of new energy vehicles and power lithium-ion batteries.

Xiong Baiqing, Chairman of Guolian Research Institute, pointed out that China's new energy vehicles and power lithium battery industry has a good development momentum, but still faces huge challenges. The China Association of Automobile Manufacturers, Guolian Automotive Power Lithium Battery Research Institute, and LG Chemical jointly promote the research and industrialization of the next generation of power lithium batteries. It is of great significance to solve the problems faced by power lithium batteries and promote the popularization and application of new energy vehicles. He hopes that the cooperation between the two sides will focus more on cutting-edge common technologies and provide technological reserves for 35 years of industrial development. He expressed confidence that the cooperation between the two sides can achieve the established goals.

Jin Minghuan, the director of LG Chemical Battery Research Institute, stated that open innovation and industrial localization are the key to LG Chemical's sustainable development in China. LG Chemical's lithium-ion battery business will continue to increase local research and development investment, strengthen cooperation and integration with local industrial chains, and strengthen localization of process and equipment manufacturing. The memorandum of understanding signed today has opened a new chapter in the cooperation between the three parties in the new energy vehicle industry and the field of power lithium batteries. China has become the world's largest new energy vehicle market, and LG Chemical will be committed to contributing to the further development of China's new energy vehicle industry.

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