Sinopec and LG Chem Sign Agreement to Jointly Develop Sodium-ion Battery Materials.
Sodium-ion batteries provide advantages over lithium-ion alternatives, including greater resource accessibility, cost efficiency, enhanced safety, faster charging, and superior capacity retention under low-temperature conditions. They are considered to outperform lithium iron phosphate batteries in certain applications and show strong commercial potential. Industry research projects China’s sodium-ion battery market to grow from 10 GWh in 2025 to 292 GWh by 2034, an average annual growth rate of roughly 45%, with China expected to account for over 90% of global production by 2030.
The signing ceremony took place with the presence of 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 signed by Mr. Bian Fengming, General Manager of Sinopec’s Science and Technology Department, and Mr. Lee Jong-Kyu, CTO of LG Chem, representing their respective companies.
Mr. Hou Qijun said: “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. 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.”
Mr. Shin Hak-Cheol added: “As a global leader in battery materials, LG Chem has consistently provided differentiated solutions to customers in the electric mobility market. Through this partnership with Sinopec, we will jointly advance the development of next-generation battery materials and continue to reinforce our business portfolio in alignment with our customers’ future strategies.”
The agreement reflects the two companies’ shared commitment to innovation in the emerging sodium-ion battery sector, which is expected to play a key role in energy storage solutions and the electrification of transportation. Both parties intend to leverage their respective expertise in chemical production, battery materials, and technology development to accelerate product development cycles and bring competitive solutions to the market.
This partnership aligns with broader trends in China’s energy transition, as the country seeks to scale up advanced energy storage technologies and support sustainable development goals. By combining Sinopec’s industrial and chemical expertise with LG Chem’s battery materials leadership, the collaboration is positioned to contribute significantly to the growing global demand for reliable, cost-effective, and safe energy storage solutions.
Overall, the Sinopec-LG Chem cooperation represents a strategic step toward the large-scale deployment of sodium-ion batteries, strengthening technological innovation, market competitiveness, and the future growth of the clean energy sector.
