LG Chem, Sinopec partner to develop sodium-ion materials

LG Chem has partnered with Sinopec, China’s largest chemical company, to develop materials for next-generation sodium-ion batteries. On Nov. 4, LG Chem said it signed a joint development agreement with Sinopec on Oct. 30 to collaborate on key materials for sodium-ion batteries.

The two companies plan to jointly develop cathode and anode materials, the core components of sodium-ion batteries, while working to establish a stable supply chain and improve cost competitiveness. They also aim to diversify business models targeting the global energy storage system and affordable electric vehicle markets and expand cooperation in eco-friendly energy and high-value materials.

Sodium, a key component of sodium-ion batteries, is easier to obtain and less expensive than lithium. Sodium-ion batteries also experience less performance decline at low temperatures than lithium iron phosphate batteries and are known for faster charging and improved safety. The sodium-ion battery market is projected to grow from 10 gigawatt-hours this year to 292 gigawatt-hours by 2034. China is expected to account for more than 90 percent of global production by 2030, positioning the country as a major manufacturing hub.

LG Chem plans to leverage Sinopec’s expertise in raw materials, process technology, and resource access to expand its presence in the global battery materials market. Sinopec is reportedly aiming to enter international markets, including the United States, through partnerships with major South Korean companies.

Collaboration between South Korea and China in the battery sector has continued steadily. In 2018, LG Chem set up precursor and cathode material plants in China through a joint venture with Huayou Cobalt, a Chinese cobalt refiner. In September, POSCO Future M signed a memorandum of understanding with Chinese precursor producer CNGR to advance an LFP cathode material business.


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