Sinopec and LG Chem have entered into an agreement to jointly develop materials for sodium-ion batteries. The collaboration will focus on creating cathode and anode materials, with the aim of serving energy storage systems and low-speed electric vehicle markets both in China and internationally.
The partnership is expected to help speed up the commercialization of sodium-ion battery technology. Both companies plan to explore new business models related to these batteries and consider expanding their cooperation into other areas such as new energy and high-value-added materials.
Sinopec Chairman HOU Qijun and LG Chem CEO Hak Cheol Shin attended the signing ceremony, along with Sinopec Vice President WAN Tao.
Looking ahead, Sinopec stated that it will continue working with LG Chem to strengthen technical capabilities, support the energy transition, and promote sustainable development.