Sinopec and LG Chem partner to develop sodium-ion battery materials, accelerating commercialization and expanding cooperation in clean energy technologies globally.
China Petroleum & Chemical Corporation (Sinopec) and LG Chem have entered into a strategic joint development agreement to collaborate on the advancement of key materials for sodium-ion batteries. The partnership marks a significant milestone in the global energy transition, focusing on the co-development of cathode and anode materials for sodium-ion batteries designed for energy storage systems and low-speed electric vehicles. The initiative seeks to fast-track the commercialization of sodium-ion battery technology while laying the foundation for future cooperation in broader clean energy and high-value chemical materials sectors.
Sodium-ion batteries are gaining attention as a promising alternative to lithium-ion technology, offering several advantages such as abundant raw material availability, lower production costs, and improved safety performance. Additionally, these batteries exhibit faster charging capabilities and stronger capacity retention under low-temperature conditions compared to lithium iron phosphate batteries. This makes them particularly suitable for applications where affordability and reliability are critical.
Industry analysts forecast a rapid expansion of the sodium-ion battery market in China, which is expected to grow from around 10 GWh in 2025 to approximately 292 GWh by 2034 — representing an impressive average annual growth rate of nearly 45%. Furthermore, China is projected to account for more than 90% of global sodium-ion battery production by 2030, reinforcing its dominant position in the global battery supply chain.
The signing ceremony for the collaboration was attended by key industry leaders, including Mr. Hou Qijun, Chairman of Sinopec; Mr. Wan Tao, Vice President of Sinopec; and Mr. Shin Hak-Cheol, CEO of LG Chem. The agreement was formally signed by Mr. Bian Fengming, General Manager of Sinopec’s Science and Technology Department, and Mr. Lee Jong-Kyu, Chief Technology Officer of LG Chem, representing both organizations.
Commenting on the partnership, Hou Qijun emphasized that Sinopec is committed to becoming a global leader in clean energy and advanced chemical materials. He noted that the collaboration with LG Chem will enhance both companies’ technological strengths and market competitiveness while contributing to sustainable energy development and carbon neutrality goals.
LG Chem’s CEO, Shin Hak-Cheol, highlighted that the company has long been recognized as a pioneer in innovative battery materials for electric mobility solutions. He stated that by joining forces with Sinopec, LG Chem aims to accelerate the development of next-generation energy storage materials and reinforce its business portfolio to align with the evolving strategies of its global customers.
This collaboration underscores both companies’ shared vision of driving innovation in the energy materials sector and supporting the global transition toward more efficient, affordable, and sustainable battery technologies.
