LG Chem, Sinopec to Jointly Develop Sodium-Ion Battery Materials

By Kwanwoo Jun

LG Chem and China's Sinopec Group are jointly developing materials for sodium-ion batteries, the South Korean chemical company said Tuesday.

LG Chem, the parent of battery maker LG Energy Solution, said it signed a pact on Oct. 30 with Sinopec to develop next-generation cathode and anode materials for sodium-ion cells.

Sodium-ion cells are seen as cheaper than the lithium-ion products that currently dominate the battery market, because raw materials for sodium-ion cells are easier to access, LG Chem said.

Sodium-ion cells are also seen to perform better than lithium-iron phosphate batteries--a type of lower-end lithium-ion products--at low temperatures, it said.

Write to Kwanwoo Jun at [e-mail]

(END) Dow Jones Newswires

11-04-25 0005ET