LG Chem and ExxonMobil sign MOU for lithium offtake
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ExxonMobil and LG Chem have signed a non-binding MOU for a multiyear agreement to supply up to 100,000 metric tons of lithium carbonate from ExxonMobil's U.S. project to LG Chem's cathode plant in Tennessee.
November 20, 2024 | 11:15 am
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ExxonMobil has signed a non-binding MOU with LG Chem for a multiyear lithium offtake agreement, potentially enhancing its position in the lithium market.
The MOU with LG Chem positions ExxonMobil to enter the lithium market, which is crucial for electric vehicle batteries. This could positively impact ExxonMobil's stock as it diversifies its portfolio and taps into the growing demand for lithium.
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