Exxon Mobil Corp. said Monday it plans to begin producing lithium for electric-vehicle batteries by 2027 from a mining operation in southwest Arkansas under the brand Mobil Lithium.
Exxon Mobil plans to produce enough lithium to supply the manufacturing needs of more than 1 million EVs per year by 2030. Exxon Mobil said it paid an undisclosed sum for rights to 120,000 gross acres of the Smackover formation, which is “considered one of the most prolific lithium resources of its type in North America.”
Energy Energy Latest News, Energy Energy Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MarketWatch - 🏆 3. / 97 Read more »