#China #Seoul #Sodium-ion #LG Chem #Sinopec

Sinopec and LG Chem Join Forces for Sodium-ion Battery Development

In a significant move aimed at revolutionizing the energy storage landscape, China Petroleum & Chemical Corporation, commonly known as Sinopec, has entered into a partnership with LG Chem to jointly develop materials for sodium-ion batteries. This strategic collaboration was announced on November 5, 2025, and is set to enhance the market competitiveness of both companies while contributing to the transition towards renewable energy sources.

The Partnership Overview

The agreement enables both companies to collaborate on research and development of critical materials used in cathodes and anodes for sodium-ion batteries. These advancements are targeted for applications in energy storage systems and low-speed electric vehicles, particularly in the burgeoning markets of China and beyond. As both Sinopec and LG Chem bring their expertise to the table, the partnership is expected to catalyze the commercialization process of sodium-ion battery technologies.

Advantages of Sodium-ion Batteries

Sodium-ion batteries present substantial advantages when compared to their lithium-ion counterparts. Crucially, sodium, being more abundant than lithium, ensures resource accessibility and more favorable pricing. Moreover, sodium-ion batteries promise enhanced safety, quicker charging times, and impressive performance even at lower temperatures, outperforming traditional iron phosphate and lithium batteries in capacity retention. Experts predict a substantial growth trajectory for sodium-ion batteries, with the Chinese market expected to expand from 10 GWh in 2025 to a staggering 292 GWh by 2034, marking an impressive annual growth rate of around 45%. By 2030, it is projected that China will account for over 90% of the global production of sodium-ion batteries, a shift indicative of the growing significance of this technology.

The Ceremony and Strategic Vision

The signing ceremony was attended by notable executives from both companies, including Hou Qijun, president of Sinopec; Wan Tao, vice president; and Shin Hak-Cheol, CEO of LG Chem. The formal signing was conducted by Bian Fengming, director general of Sinopec's Department of Science and Technology, and Lee Jong-Kyu, LG Chem's technology director.

"Sinopec is committed to establishing itself as a global leader in clean energy and chemical products, aiming to be a key supplier of clean energy and advanced chemical materials," stated Hou Qijun during the event. He emphasized that this cooperation with LG Chem in sodium-ion battery materials will further bolster the technological capabilities and market competitiveness of both companies, contributing to global energy transition efforts and sustainable development.

From LG Chem's perspective, CEO Shin Hak-Cheol remarked, "As a global leader in battery materials, LG Chem consistently delivers differentiated solutions to clients in the electric mobility market. This partnership with Sinopec represents a significant advancement in the development of next-generation battery materials, enhancing our business portfolio in alignment with our clients' future strategies."

Future Ventures

This new partnership does not only encompass sodium-ion batteries. The two companies have plans to extend their collaboration into other sectors within renewable energy and high-value materials shortly. By leveraging their collective strengths, Sinopec and LG Chem aim to pioneer new business models that will shape the future of energy solutions, enabling more robust, sustainable, and economically viable alternatives in the global market.

In summary, the collaboration between Sinopec and LG Chem signifies a pivotal step towards advancing sodium-ion battery technology, paving the way for enhanced energy storage capabilities and a cleaner tomorrow. As these companies forge ahead with their joint venture, the implications for electric mobility and renewable energy cannot be overstated.