Sinopec and LG Chem announce partnership focused on sodium-ion batteries
The two companies have signed an agreement to jointly develop key materials for sodium-ion batteries for applications “in China and globally” and state that their collaboration aims to accelerate the commercialisation of this battery technology. Beyond development, the partnership also plans to explore new business models and expand cooperation in the future to include other areas of alternative energy and advanced materials.
Sodium-ion batteries are seen as a promising alternative to lithium-ion systems due to their resource efficiency and potential cost advantages. However, challenges remain in addressing their comparatively lower energy density and scaling the technology into industrially viable and mass-producible battery cells. Sinopec and LG Chem identify significant potential primarily in stationary energy storage systems and “low-speed” electric vehicles, such as mopeds or other light-duty vehicles.
Sinopec notes that “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%”. It also highlights: “By 2030, China is projected to account for over 90% of global sodium-ion battery production.” Initial applications in China already exist, such as an electric scooter equipped with a sodium-ion battery from Yadea.
“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,” states 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.”
“As a global leader in battery materials, LG Chem has consistently provided differentiated solutions to customers in the electric mobility market,” adds Shin Hak-Cheol, CEO of LG Chem. “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.”
This article was first published by Cora Werwitzke for electrive’s German edition.
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