The U.S. has big plans for lithium production in the coming years as it ramps up output to support the rollout of utility-scale battery storage and greater electric vehicle EV uptake. To ensure the U.S. has enough lithium to support the rapid growth of the battery market and reduce reliance on China, President Biden is supporting the development of the country’s lithium industry with funding from the Inflation Reduction Act IRA and other national policies.
It will then use direct lithium extraction DLE technology to separate lithium from the saltwater. Exxon will partner with Tetra Technologies to develop its lithium business and it will sell supplies under the brand name Mobil Lithium. Exxon aims to supply lithium for over a million EVs annually, to become one of the biggest U.S. lithium suppliers by the end of the decade. This could cost the company up to $2 billion in investment to provide 50,000 tonnes of lithium.