Reported 11 months ago
Exxon Mobil Corp. expresses confidence in the increasing demand for lithium despite current bearish sentiment and low prices, believing that the need for electric vehicles and lithium-ion batteries will grow significantly. The company aims to become a major lithium supplier to coexist with its traditional oil business, with plans to have its first project online by 2027 and ramp up output for 1 million EVs annually by 2030. Exxon recently signed a preliminary agreement with SK On Co., a South Korean battery-maker, to supply lithium from a project in Arkansas.
Source: YAHOO