Reported 8 months ago
Exxon Mobil has signed a preliminary agreement to supply South Korean battery-maker SK On Co. with lithium from a deposit in Arkansas, aiming to support the electric vehicle industry. The multiyear deal will cover the sale of up to 100,000 tons of lithium, allowing Exxon to contribute to supplying raw materials for about 1 million EV batteries annually by 2030. Despite challenges such as price slumps and EV backlash, Exxon is moving forward with its lithium projects, with the first one scheduled for 2027 and utilizing a direct lithium extraction method.
Source: YAHOO