Exxonmobil To Supply Lithium For 1 Million+ EV Batteries From 2030

The company anticipates commencing lithium production for electric vehicles under the brand Mobil Lithium by 2027.

By Jafar Rizvi

1 mins read

Published on November 14, 2023

Highlights

The initial phase of this initiative is underway in southwest Arkansas.
The project's investments remain undisclosed.
Exxon aims to generate sufficient lithium by 2030.

Exxon Mobil Corporation recently revealed its strategy to engage in lithium production, a crucial component for batteries in electric vehicles. The company anticipates commencing lithium production for electric vehicles under the brand Mobil Lithium by 2027, and by 2030, Exxon aims to generate sufficient lithium to meet the manufacturing demands of over 1 million electric vehicles.

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The initial phase of this initiative is underway in southwest Arkansas, considered one of North America's most prolific lithium resources. In early 2023, Exxon secured rights to 120,000 gross acres of the Smackover Formation in southern Arkansas. The project's investments remain undisclosed, yet they hold potential benefits for a region historically associated with oil and gas production.

ExxonMobil aims to utilise direct lithium extraction (DLE) technology to separate lithium from the saltwater.

ExxonMobil employs conventional oil and gas drilling techniques to extract lithium-rich saltwater from reservoirs located approximately 10,000 feet underground. Subsequently, they will utilise direct lithium extraction (DLE) technology to separate lithium from the saltwater, followed by on-site conversion to battery-grade material. The excess saltwater is injected back into underground reservoirs. Moreover, this DLE process claims lower carbon emissions compared to hard rock mining and requires less land, the company said.

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Lithium's significance lies in its role as a fundamental element in lithium-ion batteries, crucial for electric vehicles, consumer electronics, and clean energy technologies. With a projected quadruple increase in lithium demand by 2030, ExxonMobil's venture addresses the growing need for a domestic supply, as the majority of lithium is currently sourced outside North America.