SEOUL, KOREA - LS Group said on May 8 that it has signed an agreement with China's Dongfeng Motor Group to cooperate in the area of eco-friendly auto parts system development. LS Industrial Systems vice chairman Koo Ja-kyun and LS Cable & System president Koo Ja-eun met on the same day Liu Weidong, vice general manager of Dongfeng Motor, to sign the agreement and discuss ways for further partnership.
The cooperative relationship with Dongfeng Motor will be joined by four LS Group companies including LS Industrial Systems, LS Cable & System, LS Mtron, and Daesung Electric, which will together engage in the development of powertrain, chassis system, and energy storage system.
Established in 1969 in Wuhan, Hubei Province, Dongfeng Motor is currently in the top four along with Changan Motors, FAW Group, and SAIC Motor in the category of finished automobile manufacturing. Last year, the company produced 3.08 cars, with a 30.5-percent market share in China.
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