Sinopec/LG Chem to jointly develop sodium-ion battery materials

China’s Sinopec and South Korea’s LG Chem have announced the signing of a joint development agreement on key materials for sodium-ion batteries. Under the agreement, the two companies will collaborate on the development of cathode and anode materials for sodium-ion batteries, targeting applications in energy storage systems and low-speed electric vehicles across China and global markets. The partnership aims to accelerate the commercialisation of sodium-ion battery technologies, establish new business models, and extend cooperation into broader new energy and high-value materials sectors in the future.

Sodium-ion batteries offer significant advantages over lithium-ion batteries in terms of resource accessibility and cost efficiency, while delivering enhanced safety and faster charging performance.

They also maintain better capacity retention under low-temperature conditions, outperforming lithium iron phosphate 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 by 2034, representing an average annual growth rate of approximately 45%. By 2030, China is projected to account for over 90% of global sodium-ion battery production.

“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, Chairman of Sinopec. “This strategic cooperation with LG Chem on sodium-ion battery materials will further strengthen both parties’ technological capabilities and market competitiveness, while contributing to the global energy transition and sustainable development,” he added.