Sinopec and LG Chem Forge Partnership for Next-Generation Sodium-Ion Battery Materials
In a significant move towards advancing energy storage technologies, China Petroleum & Chemical Corporation (Sinopec) and LG Chem have officially announced their partnership to develop materials crucial for sodium-ion batteries. The announcement was made on November 5, 2025, and signifies a strategic collaboration aimed at enhancing the global competitiveness of both companies while addressing emerging challenges in energy technology.
Under the partnership, Sinopec and LG Chem will focus on the co-development of cathode and anode materials for sodium-ion batteries. These next-generation batteries are poised to play a critical role in energy storage systems and in low-speed electric vehicles, particularly within the rapidly evolving Chinese market and beyond. The agreement is designed to accelerate the commercialization of sodium-ion battery technologies and to foster new business models associated with these advancements. Furthermore, the collaboration is expected to extend into additional areas concerning new energy sources and high-quality materials in the future.
Sodium-ion batteries come with several advantages over traditional lithium-ion counterparts. They present significant benefits in terms of resource availability and cost efficiency. This type of battery is recognized for enhanced safety protocols and rapid charging capabilities, making it an attractive alternative for both consumer and commercial applications. Additionally, sodium-ion batteries perform exceptionally well at low temperatures, maintaining capacity better than other types, such as lithium iron phosphate batteries. With a strong commercial potential, industry studies predict explosive growth for the sodium-ion battery market in China, which is expected to surge from a modest 10 GWh in 2025 to 292 GWh by 2034. This projection translates to an impressive average annual growth rate of approximately 45%, positioning China to account for over 90% of the global sodium-ion battery production by 2030.
The signing ceremony featured prominent leaders from both companies, including Hou Qijun, Chairman of Sinopec, Wan Tao, Vice President of Sinopec, and Shin Hak-Cheol, CEO of LG Chem. The official agreement was signed by Bian Fengming, General Director of Sinopec’s Science and Technology Department, and Lee Jong-Kyu, CTO of LG Chem. This gathering marked a significant milestone in the journey of both organizations towards becoming leaders in clean energy solutions.
During the signing ceremony, Hou Qijun emphasized Sinopec's commitment to evolving into a global leader in clean energy and chemicals, aiming to become a significant supplier of clean energy and advanced chemical materials. He stated, "This strategic collaboration with LG Chem in sodium-ion battery materials will enhance the technological capabilities and competitiveness of both companies, contributing to the global energy transition and sustainable development."
Conversely, Shin Hak-Cheol lauded the partnership, claiming that LG Chem, as a dominant player in the battery materials sector, has continuously offered distinct solutions to its customers in the electromobility sector. He suggested that this alliance would further focus on the development of next-generation battery materials, aligning with their customers' future strategies and enhancing LG Chem's business portfolio.
As the world shifts towards sustainable practices and innovation in the energy sector, the collaboration between Sinopec and LG Chem signifies a promising venture that could revolutionize the landscape of battery technologies. Not only does this initiative aim to push the boundaries of what is possible in energy storage, but it also sets the groundwork for broader applications in various sectors reliant on advanced battery systems. For further information about the partnership and other related inquiries, you can visit the official Sinopec website at http://www.sinopec.com.
Overview of the Agreement
Under the partnership, Sinopec and LG Chem will focus on the co-development of cathode and anode materials for sodium-ion batteries. These next-generation batteries are poised to play a critical role in energy storage systems and in low-speed electric vehicles, particularly within the rapidly evolving Chinese market and beyond. The agreement is designed to accelerate the commercialization of sodium-ion battery technologies and to foster new business models associated with these advancements. Furthermore, the collaboration is expected to extend into additional areas concerning new energy sources and high-quality materials in the future.
Advantages of Sodium-Ion Batteries
Sodium-ion batteries come with several advantages over traditional lithium-ion counterparts. They present significant benefits in terms of resource availability and cost efficiency. This type of battery is recognized for enhanced safety protocols and rapid charging capabilities, making it an attractive alternative for both consumer and commercial applications. Additionally, sodium-ion batteries perform exceptionally well at low temperatures, maintaining capacity better than other types, such as lithium iron phosphate batteries. With a strong commercial potential, industry studies predict explosive growth for the sodium-ion battery market in China, which is expected to surge from a modest 10 GWh in 2025 to 292 GWh by 2034. This projection translates to an impressive average annual growth rate of approximately 45%, positioning China to account for over 90% of the global sodium-ion battery production by 2030.
Key Figures in the Signing Ceremony
The signing ceremony featured prominent leaders from both companies, including Hou Qijun, Chairman of Sinopec, Wan Tao, Vice President of Sinopec, and Shin Hak-Cheol, CEO of LG Chem. The official agreement was signed by Bian Fengming, General Director of Sinopec’s Science and Technology Department, and Lee Jong-Kyu, CTO of LG Chem. This gathering marked a significant milestone in the journey of both organizations towards becoming leaders in clean energy solutions.
Commitments to Sustainability and Innovation
During the signing ceremony, Hou Qijun emphasized Sinopec's commitment to evolving into a global leader in clean energy and chemicals, aiming to become a significant supplier of clean energy and advanced chemical materials. He stated, "This strategic collaboration with LG Chem in sodium-ion battery materials will enhance the technological capabilities and competitiveness of both companies, contributing to the global energy transition and sustainable development."
Conversely, Shin Hak-Cheol lauded the partnership, claiming that LG Chem, as a dominant player in the battery materials sector, has continuously offered distinct solutions to its customers in the electromobility sector. He suggested that this alliance would further focus on the development of next-generation battery materials, aligning with their customers' future strategies and enhancing LG Chem's business portfolio.
Conclusion
As the world shifts towards sustainable practices and innovation in the energy sector, the collaboration between Sinopec and LG Chem signifies a promising venture that could revolutionize the landscape of battery technologies. Not only does this initiative aim to push the boundaries of what is possible in energy storage, but it also sets the groundwork for broader applications in various sectors reliant on advanced battery systems. For further information about the partnership and other related inquiries, you can visit the official Sinopec website at http://www.sinopec.com.
Topics Consumer Technology）
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