Sinopec and LG Chem Sign Agreement to Jointly Develop Sodium-Ion Battery Materials

Sinopec and LG Chem have recently announced the signing of a joint development agreement for key materials used in sodium-ion batteries. Under the agreement, the two companies will collaborate on developing cathode and anode materials for sodium-ion batteries, targeting applications in energy storage systems and low-speed electric vehicles for both the Chinese and global markets. The partnership aims to accelerate the commercialization of sodium-ion battery technology, establish new business models, and expand future cooperation into broader fields such as new energy and high-value materials.

Sodium-ion batteries offer significant advantages over lithium-ion batteries in terms of resource availability and cost efficiency, while also providing higher safety and faster charging speeds. In addition, sodium-ion batteries can maintain better capacity retention under low-temperature conditions, outperforming lithium iron phosphate (LFP) batteries and demonstrating strong commercial potential. According to industry research, China’s sodium-ion battery market is expected to grow from 10 GWh in 2025 to 292 GWh in 2034, with an average annual growth rate of about 45%. By 2030, China’s sodium-ion battery production is projected to account for more than 90% of global output.

Sinopec Chairman Hou Qijun, Sinopec Vice President Wan Tao, and LG Chem CEO Shin Hak-Cheol attended the signing ceremony.

“Sinopec is committed to building a world-leading clean energy and chemical company and becoming a major supplier of clean energy and advanced chemical materials,” said Hou Qijun, Chairman of Sinopec. “This strategic cooperation with LG Chem in the field of sodium-ion battery materials will further strengthen both parties’ technological capabilities and market competitiveness, while also contributing to global energy transition and sustainable development.”

LG Chem CEO Shin Hak-Cheol stated, “As a global leader in battery materials, LG Chem is dedicated to providing differentiated solutions for customers in the electric vehicle market. Through this collaboration with Sinopec, we will jointly advance the development of next-generation battery materials and continue to enhance our business portfolio to better align with our customers’ future strategies.”