Reported 8 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