ExxonMobil, EV Battery Maker SK On Sign MOU On U.S. Produced Mobil Lithium
Portfolio Pulse from Benzinga Newsdesk
ExxonMobil and EV battery maker SK On have signed a Memorandum of Understanding (MOU) to produce Mobil Lithium in the U.S. This agreement highlights the demand for domestically sourced lithium and marks a significant step in strengthening the U.S. electric vehicle and battery supply chains. The initiative is expected to enhance energy security, support U.S. manufacturing jobs, and reduce carbon emissions.
June 25, 2024 | 2:01 pm
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ExxonMobil has signed an MOU with SK On to produce Mobil Lithium in the U.S., which is expected to boost the domestic EV and battery supply chains, enhance energy security, support U.S. manufacturing jobs, and reduce carbon emissions.
The partnership with SK On to produce Mobil Lithium domestically is a strategic move for ExxonMobil, aligning with the growing demand for electric vehicles and batteries. This initiative is likely to positively impact ExxonMobil's stock in the short term due to the potential for increased revenue and market share in the EV sector.
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