LG joins forces with RIST to develop smart factory technology
A smart factory is defined as a factory where production processes are combined with digital technology, smart computing and big data to create an agile, automated manufacturing environment. It is helpful in reducing production times and costs, as well as storing and analyzing a large amount of data in real time.
The two will cooperate on developing innovative technology in the smart factory sector such as digital twin technology, which refers to a computer program that uses real-world data to demonstrate simulations that can predict how a product or process will perform.
LG Energy Solution also gets the right to use various smart factory-related technologies that RIST owns, such as three-dimensional modeling technology. The two will also work together to share their research facilities and equipment, LG Energy Solution said.
The battery maker has been making continuous efforts related to smart factory systems. In December, the company signed a partnership with Siemens to use the Munich-based company’s smart factory technology at its Ultium Cells’ factory in Tennessee.
“The latest cooperation with RIST, an institute that has innovate technology in the smart factory sector, will play a key role in the advancement of battery quality as well as in maximizing efficacy,” LG Energy Solution Chief Product Officer (CPO) Kim Myung-hwan said.
The two parties signed the agreement at the battery maker’s plant in Ochang, North Chungcheong, Tuesday, with LG Energy Solution CPO Kim and Nam Soo-hi, president of RIST, in attendance.
BY SARAH CHEA [email@example.com]