By: ICN Bureau
Last updated : November 06, 2025 8:26 am
Collaboration to accelerate commercialization of next-generation energy storage technologies
China Petroleum & Chemical Corporation (Sinopec) and LG Chem have signed joint development agreement to advance key materials for sodium-ion batteries. Under the partnership, the two companies will co-develop cathode and anode materials designed for use in energy storage systems and low-speed electric vehicles, targeting both domestic and international markets.
The collaboration aims to accelerate the commercialization of sodium-ion battery technologies and establish new, scalable business models. Looking ahead, Sinopec and LG Chem also plan to explore broader cooperation opportunities across emerging new energy and high-value materials sectors.
Sodium-ion batteries are gaining increasing attention as a promising alternative to lithium-ion technology. With advantages in resource availability and cost efficiency, sodium-ion batteries also offer enhanced safety performance, faster charging capabilities, and superior capacity retention at low temperatures.
Compared with lithium iron phosphate batteries, they demonstrate stronger stability and performance in various operating environments, signaling significant commercial potential. Industry forecasts indicate that China’s sodium-ion battery market will expand from 10 GWh in 2025 to 292 GWh by 2034, representing an average annual growth rate of approximately 45 per cent. By 2030, China is expected to account for more than 90 per cent of global sodium-ion battery output.
“Sinopec is committed to developing into a world-leading clean energy and advanced materials enterprise,” said Hou Qijun, Chairman of Sinopec. “Through this strategic collaboration with LG Chem, we will strengthen our technological foundation and market competitiveness in next-generation battery materials, while contributing to the global transition toward clean and sustainable energy systems.”
“As a global leader in battery materials, LG Chem continues to deliver differentiated solutions for the electrification era,” said Shin Hak-Cheol, CEO of LG Chem. “By joining forces with Sinopec, we aim to accelerate the development of sodium-ion material technologies and further expand our strategic portfolio to align with the evolving needs of our customers and the market.”