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5h ago

LG Chem and Sinopec Partner to Develop Sodium-Ion Battery Materials

The early-stage collaboration seeks cost advantages with supply security as China is forecast to dominate production through 2030.

This photo, taken Oct. 30, 2025, shows LG Chem Vice Chairman and CEO Shin Hak-cheol (2nd from R), Sinopec Corp. Chairman Hou Qijun (2nd from L) and other officials posing after signing an agreement to jointly develop sodium-ion battery materials at LG Chem's headquarters in Seoul. (PHOTO NOT FOR SALE) (Yonhap)

Overview

  • LG Chem and Sinopec signed the joint development agreement at LG Chem’s Seoul headquarters on Oct. 30, with details published on Nov. 4.
  • The companies will co-develop anode and cathode materials for sodium-ion batteries to build a stable supply chain and improve price competitiveness.
  • Target markets include energy storage systems and entry-level electric vehicles across China and global regions.
  • No specific products, production capacity, or launch timelines were disclosed, underscoring an R&D-focused phase.
  • Company-cited research projects market growth from roughly 10 GWh in 2025 to 292 GWh by 2034, with China expected to account for over 90% of output by 2030.