Sinopec and LG Chem have signed a joint development agreement focused on advancing sodium-ion battery materials.
The collaboration will centre on cathode and anode technologies, with applications in energy storage systems and low-speed electric vehicles across China and global markets.
The partnership is designed to accelerate the commercialisation of sodium-ion battery technologies, explore new business models, and expand cooperation into wider new energy and high-value materials sectors.
Sodium-ion batteries are said to present notable advantages over lithium-ion alternatives, including improved resource accessibility, cost efficiency, enhanced safety, and faster charging. They also retain capacity more effectively in low-temperature conditions, outperforming lithium iron phosphate batteries and offering strong commercial promise.
Industry forecasts suggest China’s sodium-ion battery market will grow from 10GWh in 2025 to 292GWh by 2034, with an average annual growth rate of around 45%. By 2030, China is expected to produce over 90% of the world’s sodium-ion batteries.
The signing ceremony in Seoul was attended by Hou Qijun, chairman of Sinopec; Wan Tao, vice president of Sinopec; and Shin Hak-Cheol, CEO of LG Chem. Bian Fengming and Lee Jong-Kyu signed the agreement on behalf of both parties.
“Sinopec is dedicated to building a world-leading clean energy and chemical company and becoming a major supplier of clean energy and advanced chemical materials,” remarked Hou Qijun.
“Through this partnership with Sinopec, we will jointly advance the development of next-generation battery materials,” said Shin Hak-Cheol.
