ExxonMobil Plans First Lithium Production For 2027, Aims To Supply Lithium For 1M EVs Per Year By 2030
Portfolio Pulse from Benzinga Newsdesk
ExxonMobil announced its new MobilTM Lithium business, aiming to become a leading lithium producer for the EV market. The company plans to start production in southwest Arkansas by 2027, with a goal to supply lithium for 1M EVs per year by 2030. Their production approach promises fewer environmental impacts than traditional mining.
February 02, 2024 | 11:34 am
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ExxonMobil plans to start lithium production by 2027, aiming to supply lithium for 1M EVs per year by 2030 with an eco-friendly approach.
Entering the lithium market positions ExxonMobil in a rapidly growing sector, essential for EVs. The eco-friendly production approach could enhance its corporate image and attract investors interested in sustainable energy. The timeline indicates a long-term strategy, but the commitment to supply lithium for 1M EVs by 2030 suggests significant potential revenue and market influence.
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