Korea LG Chem Signs Joint Development Agreement for Sodium Battery Materials with Sinopec
Sputnik News, Beijing, November 04 - South Korean chemical giant LG Chem has signed a joint development agreement for sodium-ion battery materials with Sinopec Group Co., Ltd. (Sinopec).
According to reports by Yonhap News Agency citing LG Chem, under the agreement, both parties will jointly develop core materials for sodium-ion batteries - positive and negative electrode materials, and plan to build a stable supply chain to enhance cost competitiveness. Specifically, both sides will promote the diversification of sodium-ion battery business for global energy storage systems (ESS) and electric vehicle (EV) markets, including China, and plan to expand cooperation to areas such as clean energy and high-value-added materials.
Lee Hee-joo, Vice Chairman of LG Chem, stated that the company will work with Sinopec to timely develop next-generation battery materials and continuously strengthen business strategies aligned with customers' future strategies. Hou Qijun, Chairman of Sinopec, stated that this collaboration on sodium-ion battery materials will further enhance the technological and market competitiveness of both parties, and help promote energy transition and sustainable development.
Original: www.toutiao.com/article/1847831488327680/
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